GRA 6231 Strategic Risk Analysis

GRA 6231 Strategic Risk Analysis

Course code: 
GRA 6231
Department: 
Accounting and Operations Management
Credits: 
6
Course coordinator: 
Mert Erinc
Course name in Norwegian: 
Strategic Risk Analysis
Product category: 
Master
Portfolio: 
MSc in Business - Accounting and Business Control
Semester: 
2023 Autumn
Active status: 
Active
Level of study: 
Master
Teaching language: 
English
Course type: 
One semester
Introduction

An organization always faces various risks. It is essential for financial professionals and managers to have the skills to identify, evaluate and manage various risks that could adversely affect the organization. This course provides the students with the competences required to identify, analyze, 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.

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.
  • Alternative tools to manage financial risks.
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 sustainable strategy implementation.
  • Understand the importance of good corporate governance in order to manage risk.
  • Develop, evaluate and apply internal control systems managing risks.
  • Evaluate risk management strategies and internal control.
  • Identify and evaluate different types of financial and operational risks.
  • Evaluate alternative risk management tools.
  • Understand the potential risks that come with particular risk management tools and how to avoid them.
General Competence

Upon completion of the course, the student should understand the risks companies face; and the ethical, social and environmental issues arising from risk management. They should also know how risk is identified and evaluated and how they are addressed to avoid affecting future cash flows, and misstatements in financial reporting.

Course content

The course content is composed of selected parts from the CIMA (Chartered Institute of Management Accountants) professional qualification syllabi. The first part of the course follows the P3 module on risk management with a focus on how governance and assurance relate to risk management. The second part follows the F3 module on financial strategy with a focus on different tools to manage various financial risks such as currency risk and interest rate risk.

Topics covered include:

  • Risk, and risk management
  • Strategies and corporate objectives
  • The role of risk management in a corporate governance perspective
  • The process of risk management – identification, assessment of risk
  • Considering internal control and judging control risk
  • Implications of risk on financial reporting
  • Risk reporting
  • Strategic financial and non-financial objectives
  • Identifying the exposure to financial risks
  • Tools to mitigate finanancial risks
Teaching and learning activities

The course has 24 hours of plenary lectures and the students are expected to read the material before the lectures. During the lectures, the main materials will be the selected chapters from the CIMA textbooks, which will be compiled and uploaded as an e-book. The students are not required the buy them as paper copies.

Throughout the course, the students will also be provided with several online articles. They will be required to read these articles and discuss them in class.

There will be one lecture in which a manager from a reputable Norwegian firm will present how risk management tools are implemented in the industry in a sustainable manner, and how this is reflected in the financial statements. 

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

It is the student’s own responsibility to obtain any information provided in class.

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.

Disclaimer

Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Structured test
Exam code:
GRA 62314
Grading scale:
ECTS
Grading rules:
Internal examiner
Resit:
Examination when next scheduled course
100Yes3 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
Individual Written examination (structured test) under supervision
Exams:
Exam category:Submission
Form of assessment:Structured test
Weight:100
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
Duration:3 Hour(s)
Comment:Written examination (structured test) under supervision
Exam code: GRA 62314
Grading scale:ECTS
Resit:Examination when next scheduled course
Type of Assessment: 
Ordinary examination
Total weight: 
100
Student workload
ActivityDurationComment
Student's own work with learning resources
136 Hour(s)
Teaching
24 Hour(s)
Sum workload: 
160

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.