Question: Answer ALL the questions in this section. Question 1 (25 Marks) The FIRM risk scorecard builds on the different aspects of risk, including timescale

Answer ALL the questions in this section. Question 1 (25 Marks) The FIRM risk scorecard builds on the different aspects of risk, including timescale of impact, nature of impact, whether the risk is a hazard, control or opportunity, and the overall risk exposure and risk capacity of the organisation. Compile a FIRM risk scorecard for the above-mentioned municipalities who could not produce their financial statements. Make relevant assumptions where necessary.

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