1.8 List and describe two key areas of organisational policies and procedures for financial administration relating to budgeting, e.g. reporting, recordkeeping, accuracy of data, historical records etc. i. ii. 1.9 Define financial risk and identify two strategies that an organisation could put in place to plan for/overcome unforeseen events. a. Define financial risk: b. Identify two strategies that an organisation could put in place to plan for/overcome unforeseen events: i. ii.