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

Location and time

Spring 2024

Materials

Course litterature (more details in the course):
Ahokas NIina. 2012. Yrityksen sisäinen valvonta
Ansgar Toscha, 2012. En introduktion till organisationsövergripande riskhantering
Arwinge Olof, Olve Nils-Göran & Magnusson Åke. 2017. Risk, Strategi och styrning
Hopkin Paul, 2018. Fundamentals of Risk Management
Ratsula Niina, 2016. Compliance. Eettinen ja vastuullinen liiketoiminta
Wikland Björn, 2014. Intern styrning och kontroll - både lönsamt och säkert

Teaching methods

Lectures
Exercises
Exam


The student:
- understands the importance of risk management and internal control in an organization
- knows risk management methods
- knows structures for building an internal control
- knows how to perform and document risk analysis and plan control activities

Employer connections

Possible guest lecturers from the business world

Exam schedules

According to instructions at the start of the course

Student workload

32 hours of campus based teaching
30 hours different exercises
19 hours preparation for exam
In total 81h

Evaluation scale

H-5

Assessment methods and criteria

Examination:
Course project 50% (grading 0-5)
Exam 50% (grading 0-5)
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Learning goals:
The student:
- understands the importance of risk management and internal control in an organization
- knows risk management methods
- knows structures for building an internal control
- knows how to perform and document risk analysis and plan control activities

Assessment criteria, fail (0)

The criteria for grade 1-2 are not met.

Assessment criteria, satisfactory (1-2)

Assessment Basis 1-2
Students understand the importance of risk management in organizations.
Students understand different types of risk management methods in organizations.
Students understand why documentation is important for risk analysis in organizations.

Students understand the importance of internal control in organizations.
Students understand structures for building up internal control in organizations.
Students understand that control activities is important in organizations.

Assessment criteria, good (3-4)

Assessment Basis 3-4
Students have an in-depth understanding of the importance of risk management in organizations.
Students can distinguish between different types of risk management methods in organizations.
Students have an in-depth understanding of the importance of documentation to enable risk analysis in organizations.

Students have an in-depth understanding of the importance of internal control in organizations.
Students are aware of structures for building up internal control in organizations.
Students understand why planning of control activities is important in organizations.

Assessment criteria, excellent (5)

Assessment Basis 5
Students have an in-depth understanding of the importance of risk management in organizations.
Students have the ability to develop methods for risk management in an organization.
Students have the ability to document and conduct a risk analysis in an organization themselves.

Students have an in-depth understanding and understand the significance of internal control in organizations.
Students have the ability to build up the internal control in an organization.
Students have the ability to plan control activities in an organization.

Qualifications

- None