Washington Mutual, was a US bank which went bankrupt at the end of 2008 due to a number of risk management issues. Read the case noted and answer the following questions: A. Develop a risk management programme appropriate for this case (see below risk management template) Step 1 Risks Brief description & how it relates to the case Step 2 List of possible risks Likelihood/Probability of occurrence H/M/L or Nil Impact (if occurred) H/M/L or Nil What is being done about it now What more can be done about it Dept. where risk exposure exists Step 3 Risk identified Impact (if occurred) H/M/L Probability of occurrence H/M/L Dept. where risk exposure exists Control (Strategy) Review date Step 4 Dept. where risk exposure exists Risk/Issue Recommended Actions Risk Rating H/M/L Responsible Person Monitoring Frequency

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter10: Auditing Cash, Marketable Securities, And Complex Financial Instruments

Section: Chapter Questions

Problem 40CYBK

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Related questions

Question

Washington Mutual, was a US bank which went bankrupt at the end of 2008 due to a number of risk management issues. Read the case noted and answer the following questions:

A. Develop a risk management programme appropriate for this case (see below risk management template)

Step 1

Risks	Brief description & how it relates to the case

Step 2

List of possible risks	Likelihood/Probability of occurrence H/M/L or Nil	Impact (if occurred) H/M/L or Nil	What is being done about it now	What more can be done about it	Dept. where risk exposure exists