Study Guide

Objective

The student:
- understands the importance of risk management and internal control in an organization
- is familiar with risk management techniques
- is familiar with the methods for establishing internal control
- can conduct and write a risk analysis as well as plan control activities
- understands the role of corporate governance when creating a sustainable business development

Content

- risk management
- internal control
- COSO
- corporate governance

Qualifications

Business Skills module

Assessment criteria, satisfactory (1)

Students:
-demonstrate a basic understanding of the importance of risk management and internal control.
-are familiar with and can describe some fundamental risk management methods.
-are aware of some basic methods for establishing internal control.
-can perform a simple risk analysis and suggest control activities.
-understand the role of corporate governance at a basic level.

Assessment criteria, good (3)

Students:
-understand and can clearly explain the importance of risk management and internal control, providing examples of how they affect organizational efficiency.
-are familiar with and can apply common risk management methods.
-are aware of several methods for establishing internal control and can apply them in practical situations.
-can perform and document a risk analysis in a clear and structured manner and can propose reasonable and relevant control activities.
-understand the role of corporate governance and can provide examples of its significance for sustainable business development.

Assessment criteria, excellent (5)

Students:
-demonstrate a deep understanding of the strategic importance of risk management and internal control, linking them to long-term organizational success.
-master and can critically analyze various risk management methods, proposing improvements based on the specific requirements of a situation.
-can develop and adapt methods for internal control to meet specific organizational needs and conditions.
-can perform a comprehensive and well-founded risk analysis, document it professionally, and propose innovative and effective control activities.
-critically analyze the role of corporate governance, linking it to concrete strategies for sustainable business development.