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Chapter 11

Controlling risk

Outcome

By the end of this session you should be able to:

 explain and evaluate the role and purpose of risk committees in effective
corporate governance

 define and describe management responsibilities in risk management
 explain risk appetite and how this affects risk policy
 explain and assess the role of a risk manager in identifying and monitoring risk

 explain and evaluate the role of the risk committee in identifying and monitoring
risk
 describe and assess the role of internal or external risk auditing in monitoring
risk
 explain the importance of risk awareness at all levels in an organisation
 describe and analyse the concept of embedding risk in an organisation’s
systems and procedures
 describe and evaluate the concept of embedding risk in an organisation’s
culture and values
 identify and assess how business organisations use policies and techniques to
mitigate various types of business and financial risks
 explain, and assess the importance of, risk transference, avoidance reduction
and acceptance
 explain and evaluate the different attitudes to risk and how these can affect
strategy

and answer questions relating to these areas.

The underpinning detail for this Chapter in your Integrated Workbook can
be found in Chapter 11 of your Study Text

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