QUESTION $1(100$ MARKS$)$ You are part of a team from Allan Gray Limited that has been given the responsibility to oversee the process of updating the Enterprise Risk Management Program for the organisation. The expectations are that you will conduct a risk assessment that is practical, sustainable, and easy to understand and that is correctly sized to the enterprise$$s size, complexity, and geographic reach. Your outcomes should be compiled into a report in which the following questions are explored and investigated. $($Your findings should be relevant to Allan Gray Limited, and relevant secondary research should be incorporated$)$ Question Scope Grading

$1\mathrm{.}1$ Considering the task highlighted by the Executive Board, justify the significance of updating the enterprise risk management program for the organisation