QUESTION TWO $[30]$

$2\mathrm{.}1$ An important principle of risk management is the tailor$-$made response to identified

risks, especially in big organisations. To practically implement and monitor loss

control programmes, management should apply the principles of all three risk

responses. Distinguish, by including practical examples, the risk responses

formulated by management during the risk management process. $(5)$

$2\mathrm{.}2$ Discuss how the world's dependence on technology and systems causes significant

system risks in an operational risk assessment of a professional services industry.

$(15)$

$2\mathrm{.}3$ The PFMA, Companies Act and the King Code requires that executive management

and the board of directors prioritize corporate governance and act in a transparent

and accountable manner. Explain how the corporate governance principles and

requirements informs the enterprise risk framework of an organisations. $(10)$

Answer for Question $2$ requires a word count: $1500-2000$ words

Guidelines

$1.$ This is a research$-$based assignment and requires evidence of research

$2.$ Make sure that you have carefully read and fully understood the question before

answering. Answer the question fully but concisely and as directly as possible. Follow

all specific instructions for questions $($e$.$g$.$ use examples to support your answer$).$

$3.$ Answer all questions in your own words. Do not copy any text from the notes,

readings, or other sources. The assignment must be your own work only.

$4.$ Follow the word count at the end of the question