Page 99 - annual_report_2024

CA Sri Lanka Integrated Annual Report 2024 97

Risk Description Severity of Impact Risk Management Measures
Brand and Negative media impact/ High Proactive public relations strategies
Reputational including negative social media
Risks comments Transparency and accountability in all operations
Media communications policy.

Regular monitoring and reporting of mainstream and
social media.

Research with members and other stakeholders to
monitor perceptions and attitudes.
Stakeholder dissatisfaction High Engagement with stakeholders to address concerns .

Continuous improvement in service delivery.

Continue investment in activities that capitalize on our
strong brand perception in key markets.
Talent Risks High employee turnover High Employee retention programmes and succession
planning

Competitive compensation and benefits packages

Process digitalization streamlines workflows,
enhancing efficiency and productivity
Inadequate Skill Sets Medium Continuous professional development through
ongoing training, certifications, and opportunities
Technology Cybersecurity breaches High Implementation of robust cybersecurity measures
Risks
Regular security audits and updates
Technological advancement Medium Upgrading to new systems

Strengthening the functions of IT streering
committees

Building a competent and reliable IT Team for the
Institute
Legacy Learning Management Medium IT infrastructure maintenance through regular
Systems updates and system upkeep
Strategic Risks Failure to adapt to changing High Strategic planning and forecasting
market trends
Scenario planning to anticipate market changes
Environmental Environmental disasters or High Environmental impact assessments
Risks pollution Implementation of sustainable practices