FORMATIVE ASSESSMENT $2[100$ MARKS$]$

Select a state$-$owned entity that has been in the headlines for poor performance and $($through secondary research$)$ perform

the following tasks:

Question $1(25$ Marks$)$

Provide a brief description of the selected organisation and clearly differentiate between the three levels of management

within the organisation. Acknowledging that the managers of today face various challenges, with the aid of appropriate

examples related to the entity, identify, and discuss at least five such challenges.

Question $2(25$ Marks$)$

Using the PESTLE risk classification system, evaluate the risks that the selected entity must take into consideration. Based

on your assessment, which element of the PESTLE analysis presents the most severe risk. Provide an appropriate

justification for your selection.

Question $3(25$ Marks$)$

King IV refers to the concept of combined assurance with six lines of defense. Provide an appropriate definition for

combined assurance and discuss the six lines of defense. Assess the presence of the different lines of defenses within the

selected entity.

Question $4(25$ Marks$)$

From an operational risk perspective, discuss the components of operations and in context of the chosen entity, identify and

assess at least one risk for each component. $($For assessment purposes $-$ Use a $5$ x$5$ matrix and the following formula: Risk

score $=$ likelihood x impact$)$