GRA 6231 Strategic Risk Analysis

GRA 6231 Strategic Risk Analysis

Course code: 
GRA 6231
Department: 
Accounting, Auditing and Business Analytics
Credits: 
6
Course coordinator: 
Ignacio Garcia de Olalla Lopez
Flemming T. Ruud
Product category: 
Master
Portfolio: 
MSc in Business - Accounting and Business Control
Semester: 
2019 Autumn
Active status: 
Active
Teaching language: 
English
Course type: 
One semester
Introduction

The implementation of an organisational 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. The course follows closely the syllabus of the Risk Management P3 module of the CIMA professional qualification.

Learning outcomes - Knowledge

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.
  • Understand how internal control can manage risks and contribute to reach the organization's objectives.
  • Alternative risk management tools.
  • Risks and conflicts arising from capital investment decisions.
Learning outcomes - Skills

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.
General Competence

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.

Course content

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
  • Internal control
  • Risk reporting
  • Quality requirements of risk management - generally accepted risk standards
Teaching and learning activities

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.

Software tools
No specified computer-based tools are required.
Additional information

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.

Both parts of the assessment must be passed in order to obtain a final grade in the course.

Qualifications

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 categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
GRA62312
Grading scale:
ECTS
Grading rules:
Internal examiner
Resit:
Examination when next scheduled course
30No 1 Month(s)Group/Individual (1 - 3)Assignment
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
GRA62313
Grading scale:
ECTS
Grading rules:
Internal and external examiner
Resit:
Examination when next scheduled course
70Yes3 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
Individual Written examination under supervision.
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:30
Invigilation:No
Grouping (size):Group/Individual (1-3)
Support materials:
Duration: 1 Month(s)
Comment:Assignment
Exam code: GRA62312
Grading scale:ECTS
Resit:Examination when next scheduled course
Exam category:Submission
Form of assessment:Written submission
Weight:70
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
Duration:3 Hour(s)
Comment:Written examination under supervision.
Exam code: GRA62313
Grading scale:ECTS
Resit:Examination when next scheduled course
Type of Assessment: 
Ordinary examination
Total weight: 
100