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| FINA0033-2 | Entreprise Risk Management and Control
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| Duration : | 30h Th |
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| Number of credits : |
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| Lecturer : | Didier Van Caillie |
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Language(s) of instruction :
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| English language |
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Organisation and examination :
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| Teaching in the second semester |
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Course contents :
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| "Enterprise Risk Management and Control" depicts the concepts and the tools that are used to elaborate, to implement and to control an integrated enterprise risk management system into an organisation.
It stresses on how to methodically and globally identify operational, environmental, legal and financial risks and on how to design a management control system able to control them efficiently, especially by putting emphasis on the permanent interaction between human behaviour and management system within an organization and on the use of the different traditional tools in MCS ("risk/control" matrix, balanced scorecards, performance monitoring systems).
The course is structured in two parts :
- the theoretical part presents the content of two essential books linked to management control systems and risk management ;
- the practical part is based on a real-life extended case study in order to identify risks and controls in a multinational firm operating in many businesses and international contexts (this study is supported by practioners from a major audit firm).
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Learning outcomes of the course :
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| Intended final goal : In-depth knowledge of the different fundamental concepts in the fields of managemet control and risk management and ability to use their main tools and techniques.
This goal is obtained with the following Intended Learning Outcomes :
- Strengthening knowledge and understanding of basic management disciplines in order to use them to perform a rigorous analysis of a management situation and provide pertinent solutions
- Gaining the knowledge and understanding of one of the following fields: management control (especially organizational management control) and risk management and being able to mobilize them in order to solve concrete management problems or cases
- Capacity to research autonomously and methodically the information needed to solve a complex, transversal management problem linked to risk management and control, to perform a rigorous analysis of it and to suggest pertinent solutions
- Understanding and being capable of using modelization methods in the fields of management control and risk management when seeking a solution for a concrete management problem
- Providing concrete solutions to a management problem, integrating simultaneously risk, uncertainty and control.
- Being capable of professional team work
- Developing a critical sense (arguing)
- Developing a transversal, global vision
- Creative conception of solutions
- Professional capacity for oral and written communication
- Faced with a management problem, suggesting solutions that are ethical and socially responsible and that respect the principles of good governance
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Prerequisites and co-requisites/ Recommended optional programme components :
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| Prerequisites :
- Management Accounting or Cost Accounting
- Audit or Internal Audit
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Planned learning activities and teaching methods :
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| The following activities are scheduled :
- Oral presentation of a chapter and of a small case study from a reference book in the field of management control
- Oral presentation of a chapter and of tools from a reference book in the field of (enterprise) risk management
- Analysis, diagnosis and proposal of operational solutions in terms of risk management and control in a real firm (extended real case study).
Presentations, reports and recommendations are realized by groups (max. 3 students).
PRESENCE IS COMPULSORY to each session ! |
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Mode of delivery (face-to-face ; distance-learning) :
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| The course is starting on Thursday, February 5, 2015.
It is organized every Thursday, from 9.30 to 12.30 in Building N1 (Rue Louvrex).
The course is planned on 12 sessions. |
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Recommended or required readings :
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| Reference books :
- Merchant & Van der Stede (2011) : Management Control Systems - Performance measurement, evaluation and incentives, 3rd Edition, FT Prentice Hall
- Chapman (2011) : Simple tools and techniques for enterprise risk management, 2nd Edition, Wiley
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Assessment methods and criteria :
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- Presentation of a chapter linked to management control : 15 points (50% individual)
- Presentation of a chapter linked to risk management : 15 points (50% individual)
- Critical analysis of two presentations made by other groups : 10 points (75% individual)
- Real case study : 40 points (50% individual)
- Oral individual exam about the competences and know-how acquired during the course : 20 points (100% individual)
Relative weighting of individual assessment : 70% |
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Work placement(s) :
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Organizational remarks :
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| All supports and data necessary in order to solve the different cases are available in the workspace reserved for this cours on the Lol@ platform |
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Contacts :
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| Professeur Didier Van Caillie
CEPE
Rue Louvrex, 14 - Bureau 102 - 4000 Liège
Mail : D.VanCaillie@ulg.ac.be |
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