Question 1 (25 Marks)

Using an appropriate definition of risk management, analyse and discuss the major challenges that have placed a renewed focus on risk management. Demonstrate your understanding of these challenges by linking your discussion to the case study. Question 2 (25 Marks)

The emphasis among different organisations has been to ensure that corporate governance and risk are collectively aligned. Analyse and discuss the three lines of defence and evaluate how these defences could have been utilised to prevent Wilge flats scandal from materialising. Furthermore, discuss the positioning of Auditor General in this scenario.