Enterprise Risk Management

CSME – Nov 2023 – L2 – Q7 – Risk Management and Corporate Strategy

This question discusses the application of risk management frameworks in an IT start-up, focusing on Enterprise Risk Management (ERM), ISO31000, and the ALARP strategy.

Question

An Information Technology start-up located in Lagos is planning to establish a robust risk management system that covers all its activities. You have been engaged as a consultant to advise it on how an effective risk management framework can be incorporated into the company’s processes to ensure that all risks that could impair the achievement of organisational goals are effectively managed.

Required:
a. Suggest to your client a risk management framework that the management can adopt using the following:
i. Enterprise Risk Management (ERM) (6 Marks)
ii. ISO31000 frameworks (3 Marks)

b. Draft an enterprise risk management strategy for the firm, using ALARP. (5 Marks)

Answer

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Tags: ALARP, Enterprise Risk Management, ISO31000, IT Start-Up, Risk Strategy
Level: Level 2

Topic: Risk Management and Corporate Strategy

CSME – Nov 2021 – L2 – Q2 – Risk Management and Corporate Strategy

Provide advice on the nature and role of the risk committee and elements of ISO 31000 for XYZ Limited.

Question

XYZ Limited is a company seeking to meet regulatory requirements for listing on the Nigeria Stock Exchange. As such, the company wants to make several changes in its risk management system.

Required:
You have been contracted to provide advice on:
a. The nature and role of the risk committee. (8 Marks)
b. The elements of the ISO 31000 risk management framework, including the 7Rs and 4Ts of implementing an enterprise-wide risk management system. (12 Marks)

Answer

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Tags: Enterprise Risk Management, ISO 31000, Risk Committee, Risk Management
Level: Level 2

Topic: Risk Management and Corporate Strategy
Series: NOV 2021

CSME – May 2019 – L2 – Q2 – Risk Management and Corporate Strategy

Discuss the elements of a risk management system, Board committee functions in risk management, and six categories of business risks from the Turnbull Report.

Question

The Code of Corporate Governance in Nigeria states that “the Board of Directors may establish a Risk Management Committee to review the adequacy and effectiveness of risk management and controls at least annually and the Board has responsibility to report on the effectiveness of the controls to shareholders.”

a) In line with the requirements above, discuss the elements of a risk management system. (8 Marks)

b)
(i) Advise an executive director on the functions of the Board Committee in relation to enterprise risk management. (6 Marks)
(ii) Extract from the Turnbull Report, the six (6) categories of risk common to business. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Board Committees, Enterprise Risk Management, Risk Management, Turnbull Report
Level: Level 2

Topic: Risk Management and Corporate Strategy
Series: MAY 2019

CSME – Nov 2023 – L2 – Q7 – Risk Management and Corporate Strategy

This question discusses the application of risk management frameworks in an IT start-up, focusing on Enterprise Risk Management (ERM), ISO31000, and the ALARP strategy.

Question

b. Draft an enterprise risk management strategy for the firm, using ALARP. (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: ALARP, Enterprise Risk Management, ISO31000, IT Start-Up, Risk Strategy
Level: Level 2

Topic: Risk Management and Corporate Strategy

CSME – Nov 2021 – L2 – Q2 – Risk Management and Corporate Strategy

Provide advice on the nature and role of the risk committee and elements of ISO 31000 for XYZ Limited.

Question

XYZ Limited is a company seeking to meet regulatory requirements for listing on the Nigeria Stock Exchange. As such, the company wants to make several changes in its risk management system.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Enterprise Risk Management, ISO 31000, Risk Committee, Risk Management
Level: Level 2

Topic: Risk Management and Corporate Strategy
Series: NOV 2021

CSME – May 2019 – L2 – Q2 – Risk Management and Corporate Strategy

Discuss the elements of a risk management system, Board committee functions in risk management, and six categories of business risks from the Turnbull Report.

Question

a) In line with the requirements above, discuss the elements of a risk management system. (8 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Board Committees, Enterprise Risk Management, Risk Management, Turnbull Report
Level: Level 2

Topic: Risk Management and Corporate Strategy
Series: MAY 2019

Question Tag: Enterprise Risk Management

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CSME – Nov 2023 – L2 – Q7 – Risk Management and Corporate Strategy

This question discusses the application of risk management frameworks in an IT start-up, focusing on Enterprise Risk Management (ERM), ISO31000, and the ALARP strategy.

CSME – Nov 2021 – L2 – Q2 – Risk Management and Corporate Strategy

Provide advice on the nature and role of the risk committee and elements of ISO 31000 for XYZ Limited.

CSME – May 2019 – L2 – Q2 – Risk Management and Corporate Strategy

Discuss the elements of a risk management system, Board committee functions in risk management, and six categories of business risks from the Turnbull Report.

CSME – Nov 2023 – L2 – Q7 – Risk Management and Corporate Strategy

This question discusses the application of risk management frameworks in an IT start-up, focusing on Enterprise Risk Management (ERM), ISO31000, and the ALARP strategy.

CSME – Nov 2021 – L2 – Q2 – Risk Management and Corporate Strategy

Provide advice on the nature and role of the risk committee and elements of ISO 31000 for XYZ Limited.

CSME – May 2019 – L2 – Q2 – Risk Management and Corporate Strategy

Discuss the elements of a risk management system, Board committee functions in risk management, and six categories of business risks from the Turnbull Report.

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Question Tag: Enterprise Risk Management

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CSME – Nov 2023 – L2 – Q7 – Risk Management and Corporate Strategy

This question discusses the application of risk management frameworks in an IT start-up, focusing on Enterprise Risk Management (ERM), ISO31000, and the ALARP strategy.

You're reporting an error for "CSME – Nov 2023 – L2 – Q7 – Risk Management and Corporate Strategy"

CSME – Nov 2021 – L2 – Q2 – Risk Management and Corporate Strategy

Provide advice on the nature and role of the risk committee and elements of ISO 31000 for XYZ Limited.

You're reporting an error for "CSME – Nov 2021 – L2 – Q2 – Risk Management and Corporate Strategy"

CSME – May 2019 – L2 – Q2 – Risk Management and Corporate Strategy

Discuss the elements of a risk management system, Board committee functions in risk management, and six categories of business risks from the Turnbull Report.

You're reporting an error for "CSME – May 2019 – L2 – Q2 – Risk Management and Corporate Strategy"

CSME – Nov 2023 – L2 – Q7 – Risk Management and Corporate Strategy

This question discusses the application of risk management frameworks in an IT start-up, focusing on Enterprise Risk Management (ERM), ISO31000, and the ALARP strategy.

You're reporting an error for "CSME – Nov 2023 – L2 – Q7 – Risk Management and Corporate Strategy"

CSME – Nov 2021 – L2 – Q2 – Risk Management and Corporate Strategy

Provide advice on the nature and role of the risk committee and elements of ISO 31000 for XYZ Limited.

You're reporting an error for "CSME – Nov 2021 – L2 – Q2 – Risk Management and Corporate Strategy"

CSME – May 2019 – L2 – Q2 – Risk Management and Corporate Strategy

Discuss the elements of a risk management system, Board committee functions in risk management, and six categories of business risks from the Turnbull Report.

You're reporting an error for "CSME – May 2019 – L2 – Q2 – Risk Management and Corporate Strategy"

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