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Oh and as a risk framework ALARM
Appetite
List (risk register)
Assess (TARA)
Response
Monitor
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To remember Grey Owens & Adams-Seven position on Social Responsibility:
Please Eat Salad Soup Sandwitch Regularly Dad
P= Pristine Capitalist
E= Expedients
S= Social contracts
S= Social ecologists
S= Socialist
R= Regular feminists
Deep EcologistI use PEaRLS for TUCKER
Profit
EquitAble
Right
Legal
SustainableThanks for all the mnemonicssss
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Andy, Grey and Owen- COSSSFC
C: Capitalist (pristine)-
O: Opportunist-
S: Social contractor-
S: Social Ecologists-
S: Socialists-
F: Feminists-
C: Committed Ecologists- Topics: 0
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FRS P/L for TUCKER
• Fair
• Right
• Sustainable
• Profitable
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Not a mnemonic though, still helpful
Roles Of remuneration committee
• Establish general remuneration policy
• Decide on individual director’s pay scale
• Ensure compliance with laws and best practices
• Determine disclosures regarding remunerations@ AleesIsmail, you can add approve Chairman’s expense too since the Chairman is the most senior person, some committee needs to approve his expenses.
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Very useful
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brilliant thanks
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Just starting my preparation for P1 and find this so interesting…thanks guys for the thought
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Thank you all for sharing these valuable Mnemonics! Although it’s more an acronym than a mnemonic, I would add also:
Risk Principle ALARP (As Low As Reasonably Practicable)
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Thank you so much for sharing.
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good input indeed….guys keep it up
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this is great. life made simple
Thankyou very much for all of these mnemonics for hopefully I shall get them into my head & remember them!
General Guide to some risks:
FROP LIFE
Financial risk
Repeutation risk
Operational risk
Product risk
Legal & political risk
Information technology risk
Entrepreneurial risk or economic risk
Fraud risk- Topics: 0
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Good works!
What does the letters in the mnemonic COMPARE which is used to identify specific audit risk refer to?
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