Castries – Friday, August 27, 2010 – Senior Managers and Council Members from the Saint Lucia Air and Sea Ports Authority (SLASPA) in addition to employees from St. Lucia Marine Terminals Ltd. (SLMTL) attended a timely Business Risk and Controls seminar at the Bay Gardens Hotel on Friday, August 27, 2010. Mrs. Andrea St. Rose who has a proven track record in delivery of such workshops and is considered a leading figure in this area in Saint Lucia was the facilitator.

“Recognizing the diverse activities that the Authority is engaged in, it is timely to conduct such a seminar. The Authority is dealing with a multiplicity of risks and its managers must be in a position to be aware of the risks that is present in their environment. Managers must therefore, be able to know these risks and attempt to strategically manage these risks.” Stated Mr. Cuthbert Nathoniel Internal Auditor at SLASPA.

The learning objectives of the Seminar included: Having a high level of overview of the internal control framework and enterprise risk management; Risk identification and how it relates to business objectives; Identification of major risks that impact on the Corporation; Review the systems in place to monitor compliance with laws and regulations and to consider the impact on financial reporting; Ability to develop a risk register for the Corporation; Develop a risk control matrix that is relevant to the organization; Understand the various types of frauds with a focus on industry specific issues, for example, fraud prevention in financial institutions; Strategies that can be adopted to detect fraud or to prevent it from happening in the first place and Having an understanding of the Annual Fraud Prevention Check Up and its benefit to the Organization.

The training was well received by managers who are already planning on applying their new found knowledge to their functions within SLASPA.