Identify, discuss and apply the major challenges that have been highlighted by Okoye (2015), which sanction the need for a focus in risk, compliance and control structures in relation to Prasa as outlined in the case study.

Discuss the concept of markets as institutions of corporate governance and assess how these markets can punish Prasa for entering into corrupt contracts.

Identify and discuss the three (3) lines of defence and evaluate how these defences could have been utilised to prevent Prasa from entering into contracts that was "so flawed" that it must have been apparent to "any reasonable person" that it was corrupt right from the start. Your discussion should ideally include the role of the Auditor General in this scenario.

Discuss the concept of agency theory and how it may have manifested at Prasa