World Journal Vol. VII, Issue XII, pp. 1-16. the collapse of Carillion, PM You may illustrate your answers by reference to cases other than Chapman. R (2018). (a) Risk issues are pertinent in almost all industries, including banking, manufacturing, or knowledge management. Regulators are propagating various strategies for companies on how to analyse and respond to risk management. Providing illustrations of the past corporate collapses, discuss how strategic risk management and directors in risk management strengthen corporate governance. You are only required to discuss four distinctive points. (15 marks] (b) Carillion saga is an example of how Big-four auditors have compromised their independence through long-term relationships with clients leading to huge losses for the shareholders, in particular. Discuss the ways in which professional accounting bodies can address independence issues of the auditors and the steps that the accountancy firms themselves can take to ensure auditors undertake their duties professionally. You are only required to discuss four distinctive points. (15 marks] [Total 30 marks]