RSK4803 Assignment 3 (DETAILED ANSWERS) 2024 - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED Answers, guidelines, workings and references ..... Question 1 22 marks
1.1 In a management meeting, it was decided that the company needs to establish the risk management functio...
RSK4803 Assignment 3 (COMPLETE ANSWERS) 2024 - DUE 7 October 2024 ; 100% TRUSTED Complete, trusted solutions and explanations
RSK4803 Assignment 3 (COMPLETE ANSWERS) 2024 - DUE 7 October 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.
RSK4803 Assignment 3 (COMPLETE ANSWERS) 2024 - DUE 7 October 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.
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Risk Financing (RSK4803)
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RSK4803
Assignment 3 2024
Unique #:
Due Date: 7 October 2024
Detailed solutions, explanations, workings
and references.
+27 81 278 3372
, QUESTION 1
1.1.
In a management meeting, it was decided that the company needs to establish the
risk management function. However, there were different views about the main
objective of risk management.
Choose the correct view about the responsibility of risk management:
a. The chief executive officer held that the responsibility of risk
management would be to assess, control and finance critical risks
facing the organisation and report the outcomes to the board.
b. The chief financial officer stated that the responsibility of risk management
would be to assess critical risks facing the organisation and communicate
the assessment to management and the board.
c. The human resources director argued that the responsibility of risk
management would be to compile a report on all risk exposures of the
organisation for reporting to the board.
d. The compliance officer emphasised that the responsibility of risk
management would be to provide assurance about the management of risks
to stakeholders of the organisation.
Answer:
The correct view about the responsibility of risk management is:
a. The chief executive officer held that the responsibility of risk management
would be to assess, control, and finance critical risks facing the organisation
and report the outcomes to the board.
This answer captures the comprehensive nature of risk management, which
involves assessing, controlling, financing risks, and ensuring that the board is
informed about these actions.
1.2.
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