RISK MANAGEMENT PROCEDURE

with applicable procurement rules. Purchases of goods or services in excess of [deemed threshold/limit] shall be accompanied with no less than an invoice outlining the details of the purchase mentioned above and a payment confirmation or receipt. Purchases of goods or services in excess of [deemed threshold/limit] shall be accompanied by a proforma invoice, written proposal or quote in advance of being awarded the engagement. Further, in all scenarios exceeding [deemed threshold/limit], a manager should be notified and determine whether the engagement shall be memorialized in an executed agreement between [COMPANY NAME] and the contracted party.

Avoidance of Conflict of Interest: [COMPANY NAME] employees, including partners, employees, agents, or independent contractors, shall avoid participation in procurement decisions if their participation presents an actual or apparent conflict of interest. A conflict of interest exists when the individual involved in procurement decisions, or partners, engages immediate family members or an organization in which the individual has a financial or other significant interest and would benefit from the outcome of that decision.

Where a potential, actual or apparent conflict of interest exists, the [COMPANY NAME] employees with the conflict shall inform the [COMPANY NAME] manager responsible for approving the transaction (or another manager, if the [COMPANY NAME] employees with the conflict is a [COMPANY NAME] manager) of the nature of the conflict. A [COMPANY NAME] manager without a conflict of interest must approve the procurement of goods and services. Absent approval from a disinterested [COMPANY NAME] manager (i.e., a partner without a conflict of interest with respect to the transaction), no [COMPANY NAME] employees, including manager, employees, agents, or independent contractors, may solicit or accept gratuities, favors or anything of monetary value from individuals or entities in relation to the procurement of goods or services. This rule applies to gratuities, favors or other things of monetary value [COMPANY NAME] employees may receive from vendors and others who regularly provide goods and services to [COMPANY NAME].

RISK MANAGEMENT PROCEDURE

[COMPANY NAME] integrated risk management policy is a continuous, proactive and systematic process to understand, manage, and communicate risk across the organization. [COMPANY NAME] process requires making strategic decisions that contribute to the achievement of our company's objectives. Risk management is the process of identification, analysis and acceptance or mitigation of uncertainty in decisions. Overall, [COMPANY NAME] risk management policy highlights the importance of scanning for new risks, assessing risks on the likelihood and impact, developing risk response strategies, and identifying accountabilities for managing, reporting and monitoring risks.

[COMPANY NAME] follows a five-step risk management cycle for development projects and investments based on the Government of Canada’s Integrated Risk Management Policy, Treasury Board Secretariat guidance and international risk management standards (ISO 31000)xi:

Step 1: Identify and define risks

● In this step, [COMPANY NAME] will scan the internal and external environment and identify the key risks that could affect the achievement of the expected outcomes.