The challenge
Oxfam Australia's vision is for a fair world in which people control their own lives, where their basic rights are achieved and the environment is sustained.
Always open to new and innovative ways to identify risks, Oxfam Australia adopts best practice in risk management as it relates to its business. Notwithstanding this, Oxfam Australia is always looking for alternative insights into the perceived and actual risks to the organisation.
As a result, Oxfam Australia have engaged you, as a prospective Chartered Accountant, to review publicly available information about the organisation (such as the documents available at www.oxfam.org.au) to systematically identify and evaluate what you consider to be the 6 most pertinent risks to Oxfam Australia (in terms of operations and reputation). From this risk assessment, Oxfam Australia wants you to develop strategies to mitigate these risks. Key to Oxfam Australia is that these risk mitigation strategies:
- are innovative;
- promote transparency and accountability;
- are cost effective (in terms of meeting their organisational goal of keeping administration costs to less than 5 per cent of total expenditure) and
- take into consideration the cultural values and operational environments of the regions in which Oxfam Australia operates.
As a part of your submission to the Board of directors of Oxfam Australia, please explain how you arrive at your assessment of the key risks. Your solution may submitted in any format (a document, PowerPoint presentation, video etc). Documents should be no longer than 5 pages, video no more than 5 minutes and PowerPoint no more than 10 slides.