Question 1 In order to ensure an effective risk control process, it is important that certain basic components are put into place. These components are called the 4 (four) pillars of risk control.

Discuss each one of these pillars and explain their importance in risk management with specific reference to your work environment.

- Organisanal Structure

- Policies & Procedures

- Internal Controls

- Risk Reporting

(50 Marks)

1 mark per fact in each pillar mentioned about so please explain into detail.

Instructions for your tutor:

Include examples in your working environment and also what would you do if this affected you.