QUESTION THREE

It is believed that there are six fundamental reasons for implementing Enterprise Risk Management (ERM). Each help to elevate risk management to a strategic level. You are required to explain in detail how each of the following factors may help achieve this objective:

3.1 Reduce unacceptable performance variability (4 marks)

3.2 Align and integrate various views of risk management (4 marks)

3.3 Build confidence of investment community and stakeholders (3 marks)

3.4 Enhance corporate governance (3 marks)

3.5 Successfully respond to a changing business environment (3 marks)

3.6 Align strategy and corporate culture