Note several important measure in the risk assessment in Valuation, so that we can control and anticipate the risks that may arise:
- Identification, Measurement, Monitoring Risk
- The Risk Management of the Quality Policy and Ethics
- Quality control of the assignment
- Control of independence
- Risk Management of the Valuation
Terms
Company xxx set based on the Risk Management process that is working in accordance with the standards defined in the Operational Procedures, Quality Control Company xxx include: Acceptance or Rejection Client, The Quality Policy and Ethics, Quality Control of the assignment, independence Valuer and Company xxx , Valuation Procedure, Quality of study.
Risk management in the Company XXX as defined in the following criteria: documented work process, approval or decision making based on evaluation of at least 2 (two) people, the work provides a significant impact can be run after the evaluation of at least 2 (two) people, according to the principle of dual control.
The active supervision of the Risk Management conducted by the Board of Directors, in the form of identification and preparation of risk mitigation activities that occur related to the assessment and dissemination to all employees.
Directors must make an ongoing evaluation of risk management is the case, in accordance with the development and understanding the risks of each employee.
Evaluation is done periodically, at least 1 (one) times a year.
Risk management priorities are developed in the following order:
- Acceptance or Rejection Client
- The Quality Policy and Ethics
- Quality Control of the assignment
- Independence and valuation assessors
- Valuation Procedures
- Quality study
Risk management is set in working order as follows: Identification of the order of priority based on risk management (risk event), Setting the scale can be measured, or to risk level and the possibility to occur (frequency of occurrence of the risk), Setting a scenario or plan for risk management, Define responsible for risk management that have been identified in
Risk Management mitigation is done in several options, among others: Accept: accept risk in the daily activities and conduct are strictly by Partner; Avoid: avoid or reject the risks of daily activities, including the potential risk of occurrence are: Client, activities, documents and others. Transfer: transferring risk to the activity or any other party. Reduce: reducing risk with a number of activities or processes that are working.
Risk management is the responsibility of all employees, and in the supervision of the Board of Directors. Risk management that occurred during the current year on undocumented workers who are appointed. Risk management that have been identified or are socialized to run must all employees concerned.
Commitment of Management to Business Plan: Evaluation of Management Commitment to the Business Plan is done periodically, at least 1 (one) times a year by the Board of Directors.
Commitment to Quality Evaluation of the Board of Directors conducted periodically, at least 1 (one) times a year, according to the Standard Operation Procedure the Quality Policy and Ethics.
Things that are material evaluation, among others: Conformity between the targets set at the Business Plan to the achievement of which is already running Evaluation of the suitability of staff competency, Independence of the evaluation criteria and the client can receive, Fee structure charged to the Client
Controlling Risk
Indiscipline defines the action of the Board of Directors to employees, including reporting to the authorities to cases of abuse of power and / or loss of entry in the criminal categories. Decision and the consideration is determined by the Board of Directors COMPANY XXX.
Appointed Director of the follow-up and correct the findings reported by the Audit Quality or of the external examiner.
Repetition or findings that have not been corrected must be submitted to the Board of Directors to consider the impact that risk will be faced.
Direct Action from employees not to make the corrections will be given a sanction to employees concerned.
Identification, Measurement, Monitoring Risk
Risk identification is a study on the potential risk due to lack of data and / or not running a process, either because of human error or failure of the external influence of the assessment process. Risk appraisal is a basic reference for anticipating the potential of each type of risk. The methodology used to identify risks, among others: Self-assessment Risks & Mapping, efforts to evaluate and identify weaknesses dots that may be the source of a risk. (Weaknesses area). Risk Indicator, rating risk based on potential impact. Risk is measured with the measurement takes into account the frequency of occurrence (likelihood) and consequences of risk (consequence). Criteria used for the consequences are:
High with the criteria of financial losses will exceed a certain value, it was stated explicitly in a certain amount of Indonesian Rupiah. Significant damage on the reputation, such as the absence of the parties want to do business over a period of 1-3 months. Restrictions / Revocation of permission from regulators and financial authorities. Death or injury to the employee as a consequence of the work at once.
Medium: financial losses will exceed a certain value, it was stated explicitly in a certain amount of Indonesian Rupiah. Moderate damage to the reputation as the possibility of the parties does not want to start a new business. Policy (regulatory) and impose a fine or penalty.
Low losses will exceed a certain value; it was stated explicitly in a certain amount of Indonesian Rupiah. There is no damage to the reputation, for example, identified over the parties does not change their business with the Board of Directors.
Criteria used for frequency is: High risk will often happens, in at least 1 time each month. Medium (Medium): Risk will occur at least 1 time in 3-6 months. Low: Risk will occur at least 1 times in 6-12 months.
Collecting Data
Collecting data related to the risk based on: history, historical data loss has happened and experienced in the week. Routine; routine occurrence with high frequency low impact, low frequency and a high impact on the profit / loss. Directors or employees who should be appointed to record and try to arrange any event including the number of potential losses due to the incident in an administrative data, which can be used to project the potential losses in a period of time.
Risk Monitoring
Directors or employees who are appointed to monitor risk on an ongoing basis against all forms of the operational risks and losses incurred by major functional activities, such as how to implement the internal control system and provide periodic reports.
Directors or employees who should be appointed to the review on a regular basis (review) of the factors that cause the occurrence of operational risks and the impact of loss.
COMPANY XXX Clients must reject any that do not meet the criteria in SOP Client Acceptance and Rejection.
Periodically, COMPANY XXX creates a list of clients who get special attention because of factors such as independence or other factors established by the Board of Directors COMPANY XXX.
COMPANY XXX shall perform the evaluation of each assignment or job given client. Things must come to the attention are: compliance with employee competency COMPANY XXX, period, and the scope of work.
COMPANY XXX charge to the Client in accordance with the standards set by the cost estimator based on the association of the assessment object.
In the case of the assignment to provide a significant impact on the scope of work, time period or risk going work related to the XXX COMPANY to charge additional fees beyond that agreed upon as the additional risk of work (risk premium).
Charge includes the cost of additional work on the risk (risk premium) are the mechanism through evaluation by the Board of Directors COMPANY XXX and documented, in accordance with the Quality Control SOP assignment.
COMPANY XXX must create the form of commitments (contracts) are written with all clients, whether in the form of a Cooperation Agreement and the Offer or the Client has been approved.
Form of written commitments minimal information: the scope of the work is done, the determination of the source data, methodology and cost analysis and reports that will be generated.
COMPANY XXX Directors may issue a statement letter that explains things a significant other outside of the commitments set out in, as long as the work is or has been in progress.
Directors COMPANY XXX with Quality Control Officer shall ensure that all the work done has been documented well, in accordance with the requirements specified in the commitments to the client. Valuation reports are created and produced only distributed to: Clients, in the amount specified, Archives on XXX COMPANY.
Valuation reports are limited to documents, in accordance with the SOP The Quality Policy and Ethics so that it can not be, distributed or copied to other parties outside of the commitments specified in the Client.
To confirm the condition of the distribution of Valuation Reports, the Board of Directors COMPANY XXX must specify it in the document Conditions barrier that are part of the Valuation Reports.
The Risk Management of the Quality Policy and Ethics
Potential Risks associated with The Quality Policy and Ethics are: Risk in the quality of employees, risk management on complaints / feedback from clients, the quality of risk assignment, and the socialization of the Risk Policy on Ethics COMPANY XXX. COMPANY XXX Directors responsible for the acceptance criteria, recruitment, employee assignment, and increasing employee competence.
Directors COMPANY XXX mandatory criteria of the program and competency of employees needed. Board of Directors periodically COMPANY XXX do performance assessment of all employees in accordance with the SOP The Quality Policy and Ethics, to ensure the qualifications of existing employees in accordance with the terms of the assignment from the client.
Risk to the quality or qualifications of the employees of COMPANY XXX could be reduced and managed to carry out internal or external training, in accordance with the provisions in the SOP The Quality Policy and Ethics. Evaluation of the results of the training is done periodically by the Board of Directors or senior COMPANY XXX concerned.
COMPANY XXX manages risks to the quality of employees, among others, with the determination of the rules in writing about: Acceptance criteria including employee and various tests that must be adopted by prospective employees. Structure positions and wage scale and benefits individual employees the right employee & family. Performance assessment, promotion, awards and service work and other aspects related.
COMPANY XXX define organizational structure both in the office, representative and branch offices (if any) following the obvious details of the roles, powers, duties and responsibilities of each (job description). Each position by employees who have the skill competency in accordance with the requirements for the position.
Risk management of the complaints / feedback from clients is done by continuously communicated with the client during the work progress to ensure the scope and the report has been produced in accordance with the commitments. Communication with clients is done by Project Manager / staff or appointed by the Board of Directors COMPANY XXX. COMPANY XXX applies principles of control (dual control) double, especially in the separation of functions implementing the activities and functions that give the approval. Risk to the quality of the assignment is managed by performing the evaluation at each stage of the work by the Board of Directors COMPANY XXX with staff to ensure that the criteria set by the client can be met by employees and documented COMPANY XXX.
The socialization of risk and quality policy with a managed set Ethics. Schedule socialization regularly, at least one (1) times in a year or to any changes that occur in The Quality Policy and Ethics to all employees in accordance with the Code of Professional Ethics.
Directors set the amount of authority to act or represent COMPANY XXX, including: limits a hand-over of the official order and give full power to the other party to make payments in person or on behalf of the COMPANY XXX. Letters that create COMPANY XXX binding themselves to a liability and warranties. Authority and issue a purchase fund for the procurement of goods and services. The authority of the insurance policy with a clause to all forms of billing. Authority to do any form of sale-purchase transactions and contracts with clients. Authority to issue a cost and operational (daily expenses). The authority is set by the Board of Directors COMPANY XXX according to the needs of internal COMPANY XXX.
Quality control of the assignment
Potential Risks associated with the Quality Control of the assignment is: Risk Working Paper on the approval and evaluation of the assignment, the type of risk on the job of a periodic (repeat order). Working Paper on risk and approval of evaluation assignment may occur because of the Board of Directors COMPANY XXX can provide consent on duty in the field or other place of work. Against this situation, evaluation and approval of the assignment can be done through the existing communication facilities, such as: telephone, facsimile, short message system (SMS), email or other form.
Evaluation and approval of the assignment by officials COMPANY XXX minimal information, including: agree or not agree to the assignment, the scope of the evaluation, competency evaluation of employees who can perform the assignment and the cost offered to clients after considering the risk of employment.
Risks involved in the work of a periodic (repeat order) can be reduced by evaluating the scope of the assignment and the time period provided for the settlement of the work. If the scope of work provided and the time period given the same assignment as before, then the Quality Control of the assignment can be done by the Project Manager. If the scope of work and the time period given different, then the Quality Control of the assignment made in accordance with the standards and procedures that apply.
Control of independence
Potential Risks of the Control of independence is: Risk in the evaluation of independence Clients, Risk documentation on every phase of work.
Risk evaluation on the independence of the client is done since the initiation of client work, according to the Entity List is Getting Attention and Obligation for the job.
Risk evaluation on the independence of the client with a reduced COMPANY XXX and ensure all employees associated with the assignment do not have affiliate relationships, family, or inclusion. Reduced risk in the documentation of each stage must be evaluated and work is managed by the appointed officers. Appointed officials must ensure that all records, documents or the discussion related to the job stored in accordance with the reference number of the assignment set. Control and access to document the work done by officers who are appointed with every rental documents, and making the return a copy (photocopy). All employees must ensure the independence of the assignment to the Client has been met and documented in the Working Paper related.
Risk Management of the Valuation
Potential Risk to the Risk Management Valuation is: Risk in the source data used in the Valuation, Risk on the adequacy of the data used in the Valuation, Risk Management in the methodology used in the Valuation.
Risk in the source data used in the Valuation with a reduced quality of the evaluation of the data obtained by the Quality Control Officer, and be sure the data source is valid and can be. Quality Control Officer may conduct random sampling and to ensure truth data provided by the source of information.
Risk on the adequacy of the data used in the Valuation can be received throughout the data support from the business or assets that are not related. Superiors or the Board of Directors XXX COMPANY may set the benchmark or benchmark equivalent to the assessment of object, in accordance with the assessment procedures.
Reports provided by COMPANY XXX minimal load things below: The determination of the validity of the detailed report with regard factors: a variety of cargo and contents of the report, Willingness necessary information, the information presented truth, accuracy and speed of time. Evidence and any changes that are associated with the mutation data is presented to facilitate the reconstruction and verification, for example: data analysis & calculations, assumptions used, and others. Implementation of system control, supervision and validation (validation checking) on the application to improve control over the assignment and Control of Quality Rating. Determination and data backup program (back-up programs & files) to be placed in a safe place and separate.
Quality Risk management study: Potential Risk to the Quality of study is: Risk documentation of each stage of the work, the risk period, or study the quality of the audit was conducted in accordance, on the competence Risk Audit Officer is appointed to the Risk Management of the documentation work is to conduct sampling of the file documents related to the work by the audit. Risk management for a period of study quality, carried out with the Schedule set study on the quality of the beginning of the year by the Board of Directors COMPANY XXX. Risk management of the Audit Officer who is appointed by the Board of Directors COMPANY XXX set criteria for adequate staff is appointed to study the process of quality
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