GRA 6231 Strategic Risk Analysis
GRA 6231 Strategic Risk Analysis
The implementation of an organisation strategy always faces different risks. Therefore, it is essential for financial professionals to have the skills to identify, evaluate and manage various risks that could adversely affect the implementation of the organisation’s strategy. This course provides the students with the competences required to identify, analyse, evaluate and manage risks as well as developing techniques, processes and internal control systems to manage the risks associated with both operations, cash flows and capital investment decisions. This course follows closely the syllabus of the Risk Management P3 module of the CIMA professional qualification.
After finishing this course, the student should have knowledge about:
- Differing types of risk that organizations face as well as possible responses to these risks.
- Tools and processes required for strategy implementation.
- Corporate governance and its associated risks.
- The internal auditing process.
- Financial risks that organizations face.
- Alternative risk management tools.
- Risks and conflicts arising from capital investment decisions.
After finishing the course, the student should be able to:
- Identify, evaluate and respond to the different types of risk facing an organization.
- Evaluate the tools and processes required for strategy implementation.
- Understand the importance of good corporate governance structures in order to reduce risk.
- Develop, evaluate and apply internal control systems managing risks.
- Evaluate risk management strategies and internal control.
- Plan and manage an internal audit.
- Identify and evaluate different types of financial and operational risks.
- Evaluate alternative risk management tools.
- Understand, evaluate and manage the risks associated with capital investment decisions.
Upon completion of the course, the student should understand the ethical, social and environmental issues arising from risk management. They should also understand the risks of unethical behavior within organizations. In addition, they should also know how risk, control and audit professionals evaluate risks and control systems and conduct audits in terms of identifying potential misstatements in financial reporting and reporting on them to the management and the board and its risk committee.
Topics covered include:
- Understanding strategies and corporate objectives
- The role of risk management in a corporate governance perspective
- Understanding business, industry, etc with consequence for risk management
- The process of risk management – identification, assessment of risk
- Considering internal control and judging control risk
- Considering the risk of fraud, consequences for reporting
- Risk analysis of important transactions cycles
- Sampling, test methods, including the use of statistical methods
- Risk reporting
- Quality requirements of risk management - generally accepted risk standards
The course has 36 hours of plenary lectures and the students are expected to read the literature before the lectures and digest the material lectured on afterwards.
Please note that while attendance is not compulsory in all courses, it is the student’s own responsibility to obtain any information provided in class that is not included on the course homepage/itslearning or text book.
This is a course with continuous assessment (several exam components) and one final exam code. Each exam component is graded by using points on a scale from 0-100. The components will be weighted together according to the information in the course description in order to calculate the final letter grade for the examination code (course). Students who fail to participate in one/some/all exam elements will get a lower grade or may fail the course. You will find detailed information about the point system and the cut off points with reference to the letter grades when the course start.
At resit, all exam components must, as a main rule, be retaken during next scheduled course.
All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have specific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.
| Exam category | Weight | Invigilation | Duration | Support materials | Grouping | Comment exam |
|---|---|---|---|---|---|---|
| Exam category: Activity Form of assessment: Presentation and discussion Exam code: GRA62311 Grading scale: Point scale Grading rules: Internal examiner Resit: All components must, as a main rule, be retaken during next scheduled course | 30 | No | 1 Month(s) | Group/Individual (1 - 3) | Students will be given a case. They will present their solutions for the instructor and for the rest of the class. Then they will engage in a discussion regarding their presentation. | |
| Exam category: Submission Form of assessment: Written submission Exam code: GRA62311 Grading scale: Point scale Grading rules: Internal and external examiner Resit: All components must, as a main rule, be retaken during next scheduled course | 70 | Yes | 3 Hour(s) |
| Individual | Written examination under supervision. |
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 6 ECTS credits corresponds to a workload of at least 160 hours.