Adopt loss control mechanisms, businesses urged

LOCAL businesses can save up to 80% of their revenue through adopting and applying loss control mechanisms, Internal Control Institute of Zimbabwe (ICIZ) chief executive officer Proctor Nyemba has said.

Loss control is defined as a risk management technique that seeks to reduce the possibility that a loss will occur and the severity of those that do occur.

ICIZ is a pioneer institution that has been pushing for the adoption of internal controls and its implementation in Zimbabwe’s public and private sectors.

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