| CODE | ACC5970 | ||||||||
| TITLE | Risk Management and the Professional Accountant | ||||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||||
| MQF LEVEL | 7 | ||||||||
| ECTS CREDITS | 5 | ||||||||
| DEPARTMENT | Accountancy | ||||||||
| DESCRIPTION | The study-unit is divided into two sections: 1. The main risk exposures faced by modern institutions, and how these can be dealt with: a) General risk management b) Credit risk management c) Market risk management and hedging techniques d) Operational risk management and business continuity planning. 2. Risk management for the accountant, covering: a) The accountant鈥檚 regulatory framework b) Client acceptance and engagement acceptance c) Engagement performance d) Practice management. Study-unit Aims The study unit is aimed at delivering theoretical and practical insights into the main risk exposures faced by modern institutions including the accountant in public practice. It provides students with a detailed understanding of risk management theory and how this translates into policies and practices adopted generally and in particular by professional accountants. Learning Outcomes 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: 1) Explain the dynamic nature of risk assessment and the importance and nature of management responses to changing risk assessments. 2) Define and compare strategical and operational risks. 3) Describe general risk policies and practices that can be adopted by organisations as part of their corporate governance structure. 4) Explain risk management principles for the accountant in public practice. 2. Skills: By the end of the study-unit the student will be able to: 1) Identify and assess the impact upon the stakeholders involved in business risk. 2) Apply the concept of embedding risk in an organisation's culture and values, and the concept of diversification as appropriate. 3) Assess the importance of risk transference, avoidance, reduction and acceptance. Main Text/s and any supplementary readings - COSO (2004). Enterprise Risk Management 鈥� Integrated Framework. COS - Sadgrove, K. (2005). Complete Guide to Business Risk Management, Gower Publishing - Crouhy, M. Galai, D. And Mark, R. (2006). The Essesntials of Risk Management: The definitive guide for the non-risk professional, McGraw-Hill Professional - Solomon, J. (2007). Corporate Governance and accountability, John Wiley |
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| ADDITIONAL NOTES | Pre-requisite Qualifications: Bachelor of Commerce with Accountancy Stream Pre-Requisite Study-units: ACC3411/ACC3412 |
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| STUDY-UNIT TYPE | Lecture | ||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Miguel Borg |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
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