20227 - RISK ASSESSMENT AND AUDITING
CLMG - M - IM - MM - AFC - CLAPI - CLEFIN-FINANCE - CLELI - ACME - DES-ESS - EMIT
Course taught in English
Go to class group/s: 31
The course major educational objective is the analysis of the risk assessment and risk management methodologies with respect to the following major professional applications:
- business planning and performance management systems.
- Design and implementation of internal control systems, with reference to main strategic and operational risks for the effectiveness of the business, the reliability of financial reporting and the compliance with the law.
- Audit of internal controls, in the perspective of managers, controllers and auditors.
Successful completion of this course enable students to design basic Enterprise Risk Management (ERM) systems and to analyze ERM systems in complex organizations. Particular relevance is given to the analysis and discussion of case studies, in order to develop students' skills in identifying critical risks and evaluating their expected impact.
- Corporate Governance and Internal Control Systems and Risk Management Frameworks.
- Enterprise Risk Management: the COSO ERM Approach (a):
- Control Environment.
- Objective Setting.
- Risk Appetite and Risk Tolerance.
- Strategic Risk Assessment and Business Risk Modeling.
- Early Warning Systems.
- Enterprise Risk Management: The COSO ERM Approach (b):
- Risk measurement: qualitative and quantitative methodologies and techniques.
- Assessment of the internal controls effectiveness.
The faculty team determines student grades by using a combination of assignments and final exam. The final exam (written) consists of essay questions relating to class theory sessions and case studies discussions. It lasts approximately 1 hour.
In order to promote active participation to classes and to improve the quality of learning, students are asked to accompany their class participation with 2 group assignments and 2 individual assignment. Each assignment is estimated to require 1-day working time and evaluated by instructors, thus becoming an integral part of the final individual evaluation.
Students’ evaluation is based on:
individual written exam (open questions and short case discussion): 60%.
Overall group assignment evaluation: 20%.
Overall individual assignment evaluation: 20%.
The written exam includes focused open questions.
Slides, exercises, readings, case studies and other materials are provided during the course. Students need to refer to each specific session in the Learning Space (the course web site).