Suleiman Mohammad, the recently retired chief executive of Asad Abbas Finance Bhd (AAFB), a major listed company, was giving a speech reflecting on his career and some of the aspects of govermance he supported and others of which he was critical. In particular, he believed that board committees were mainly ineffective. A lot of the ineffectiveness, he said, was due to the lack of independence of many non-executive directors (NEDs). In relation to risk committees, he said that in his experience, the company's risk committee had never stopped any risk affecting the company and because of this, he questioned its value. He said that the risk committe was always asking for more information, which was inconvenient and had such a 'gloomy and pessimistic' approach to its task. He asked, 'why can't risk committees just get on with stopping risk, and also stop making inconvenient demands on company management? Do they think middle managers have nothing else to do?' He viewed all material risks as external risks and so the risk committee should be looking outwards and not inwards. Since retiring from AAFB, Suleiman Mohammad had taken up Baragah Securities, a smaller private company in his town. In a meeting with Ahmad Rafiq, the new chief executive of AAFB, Ahmad Rafiq said that whilst risk management systems were vital in large companies like AAFB, fewer risk controls were needed in smaller companies like Baraqah Securities. Required: a. Describe FOUR (4) important roles of a risk committee (8 marks) b. Criticise Suleiman Mohammad's understanding of the risk committee in AAFB. Provide FOUR (4) reasons to support your answer. (8 marks) c. Assess whether risk committees and risk mitigation systems are more important in larger companies, like AAFB, than in smaller companies like Baraqah Securities. Provide FOUR (4) reasons to support your