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.
Case Study: 'Nobody really knows' what happened to R5.5bn at SA's worst-run municipalities - AG
Please references at the end.