Unit convenor and teaching staff |
Unit convenor and teaching staff
Lecturer and Unit Convenor
Andrew Skinner
Contact via accg930@mq.edu.au.
By Appointment - Friday 3 to 5 pm
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
ACCG611 or (admission to MAdvProfAcc or MBkgFin or (MCorpGvnce prior to 2013))
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
This unit examines enterprise risk management, processes and techniques aimed at the cost effective loss prevention of an entity's assets and resources. It provides a strong business foundation that can be applied in business planning and decision making. In the wake of the spate of corporate collapses, a risk-based approach to evaluate and plan business activities is now an accepted paradigm. The unit covers topics of risks: strategic, operational, reputational, contractual, financial and information system, while addressing emerging challenges. The unit is presented with a corporate governance focus.
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Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
Name | Weighting | Due |
---|---|---|
1. Class Test | 20% | Week 6 |
2. Case Study | 20% | As scheduled |
3. Final Examination | 50% | Examination period |
4. Participation | 10% | Ongoing |
Due: Week 6
Weighting: 20%
Class Test
The Class Test is assessed as follows:
Marking criteria: The Test will be 20 questions and marked out of a possible 20 marks, this is a diagnostic test which means it assesses students on progress to date and allows time to address potential challenges in subsequent classes. The questions will be based on the learning covered during classes during weeks 1- 5 inclusive to ensure students have a thorough understanding of the framework of ERM, corporate governance perspectives, and corporate risk culture, and basic ERM tools and techniques..
Submission: Students will complete the test in class, in Week 6 and the Unit Convenor will collect the papers from students.
Extension and Penalties: No extensions will be granted. Students who have not completed the test on the day will be awarded a mark of 0 for the task, except for cases in which an Application for Disruption of Studies is made and approved (in accordance with the policies and procedures). If approved the student will do the test at a later time.
Preparation: The Class test is designed so that a student working on average 4-6 hours per week both in attendance at class plus additional reading will be able to achieve satisfactory marks.
Due: As scheduled
Weighting: 20%
Submission: In-class presentation and report in week allocated. Students work in groups.Case studies are graded based on content and presentation style. See below for the marking assessment criteria. Please refer to the University’s policy regarding Group Assessment: http://mq.edu.au/policy/docs/assessment/policy.html The purpose of this assessment is to allow the students to work on a significant piece of work and communicate their level of understanding of key risk concepts, theories and issues presented by the case studies during the semester. Students will note that each case has multiple dimensions of risk. This allows students to build their understanding of risk through exposure to the different cases over successive presentations. Each case study requires an oral presentation (of approximately 20 minutes) a submitted power point presentation, plus a written report which summarises the key issues raised by the case study. Case study questions and project teams will be allocated in weeks 3-4 of semester.
Submission will only be accepted through Turnitin. However, on the date of your presentation a copy of the Powerpoint Presentation and material is also to be provided in a manner expected of that of a business report to the Board of an ASX company. Developing critical presentation skills is an important aspect of verbal and non-verbal board and management presentations.
Pre-submission - Each group is required to submit a Group Planning Paper in the Week 7 class.
Presentation Audience Each group is to present to class and your fellow students are encouraged to ask questions. Each group will have a maximum ‘overall’ presentation time of 20 minutes. Each group member must speak for a minimum of four minutes depending on the number of students in each group.
Marking Criteria: This assessment task allows the students to display oral and written communication skills to explain the key concepts. 5 (of 20) marks are awarded for the presentation itself, 15 (of 20) marks are awarded for the written report and presentation slides.
Presentation Marking Criteria (5 of 20 marks)
Report Marking Criteria (15 of 20 marks)
Extension and Penalties: No extensions will be granted. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 20% penalty). This penalty does not apply for cases in which an application for disruption of studies is made and approved. No submission will be accepted after solutions have been posted.
Due: Examination period
Weighting: 50%
Due Date: Examination period
A final examination is included as an assessment task to provide assurance that:
A final two hour examination for this unit will be held during the University Examination Period. For session 1 of 2015 between 9 June to 26 June 2015 inclusive. All material covered in the unit is examinable. It is a closed book examination. Further details will be made available via iLearn. Details of the examination time and place will be in the University Examination Timetable: www.timetables.mq.edu.au/exam
Submission method: Submitted in hard copy at end of examination.
The only exception to not sitting an examination at the designated time is because of documented illness or unavoidable disruption. In such circumstances students may wish to apply under the Disruption to Studies policy. Further details are available here: (http://www.mq.edu.au/policy/docs/disruption_studies/policy.html)
Marking Criteria: The examination represents 50% of the student's overall assessment for this unit. Typically the examination consists of a multiple-choice format in one section followed by more in depth questions in the next section. Questions in the latter section are designed to test student's ability to demonstrate knowledge of the key topics, cases studied and issues discussed in the unit. Students must pass the final examination in order to achieve a passing grade for the unit.
Penalties: Students will not receive any marks for this assessment task if they fail to sit the examination. If a Supplementary Examination is granted as a result of an approved application under the Disruption to Studies policy the examination will be scheduled as per the Supplementary Examination timetable of the Faculty. Please note that the supplementary exam will be of similar format to the final exam.
Due: Ongoing
Weighting: 10%
Submission
Active participation is expected of ACCG930 students. ERM is a dynamic field and thus active discussion of risk in the context of the topic is essential. . Mere attendance is not enough - students are expected to have prepared for lectures and contribute to in-class discussions and activities. An on-line discussion forum will be enabled for active participation and discussion by all students.
Estimated student workload Students are expected to spend approximately 2 hours reviewing their weekly reading and material before attending class. Marking criteria
Ongoing participation (out of 10): 0/10 – No participation - No substantial contribution to class discussions and online forum 1-4/10 - Limited participation - for example, occasionally contributing to class discussions and online forum 5-8/10 – Good participation – for example, regularly contributing to class discussions and online forum 9-10/10 – Excellent participation – for example, regularly contributing to class discussions and sharing relevant examples from current media or personal experience and online forum
Classes Students are expected to attend one 3 hour face-to-face seminar per week.
The timetable for classes can be found on the University web site at: http://www.timetables.mq.edu.au/
A typical 3 hour session will be as follows:
a) Lecture and class discussions (90 minutes)
b) Class activities and discussions relating to cases or other pre-assigned reading material and questions (45 minutes)
c) Case study presentation by students (in certain weeks) (25 minutes)
a) Lecture and class discussions. The lecturer will introduce key themes and their practical applications for each week’s topic. The lecturer will then facilitate discussions on key issues, challenges and solutions relating to the topic. Students are required to pre-read assigned material and be prepared to lead discussions in turn. Students are expected to read the course materials for at least two to three hours per week. A week-by-week list of the topics to be covered is at the end of the unit outline.
(b) Class activities and discussions. Each week, all students will be asked to prepare and contribute to discussion relating to cases or reading material and questions. These tasks will be assigned in advance. The amount of time spent on these discussions will be decided by the lecturer. Contribution to class discussions is part of the learning outcomes and contributes to developing understanding of the key issues (please see the section ‘Relationship between Assessment and Learning Outcomes’ below).
(c) Case study presentation. In week 3 the lecturer will assign students to groups, and will allocate project work to each group. The groups then will be asked to present their written and oral reports on their project work in the allocated weeks (Week 10, 11 and 12). The Group Project is an important part of course assessment.
Required and Recommended Texts and/or Materials
Prescribed textbook
No text is prescribed for the course.Reading list will be provided for each week. The main case study will be on a selection of 5 examples of failure of ERM, or a failure suggest by your group, Hard copies will be provided to students in week 2.
Students are expected to read the business pages of the Sydney Morning Herald (www.smh.com.au) daily or the Australian Financial Review (www.afr.com.au): this helps to familiarise yourself with business issues, political developments and the companies we will be discussing in class.
References:
• Taleb, Nassim N., 2005, “Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets”, Random House Trade Paperbacks
The above book is suggested since it is a comprehensive analysis of the way that probability and statistical representation is used and abused in the area of risk management. It is not compulsory but you will find it invaluable, and I hope, interesting. Nassim Taleb has also written other interesting works on risk management that are worth considering.
• Hampton, John, J., 2015, "Fundamentals of Enterprise Risk Management - How Top Companies Assess Risk, Manage Exposure and Seize Opportunity", American Management Association (2nd Edition).
• Hubbard, Douglas, W., 2009, "The Failure of Risk Management - Why It's Broken and How to Fix It", John Wiley & Sons Inc,
On-line sources, articles, and other reference material will be advised for different topics before these topics are covered in the class. It is essential that you have a good knowledge and understanding of such material.
Unit Web Page
Course material is available on the learning management system (iLearn). The web page for this unit can be found at: http://mq.edu.au/iLearn/index.htm
Technology Used and Required
Students are expected to have:
· Proficiency in Word, Excel and PowerPoint
· Knowledge of the library research databases – for accessing additional research material.
Changes to this offering since last semester:
Assessment tasks and weightings are unchanged, but the course content has been updated to reflect the very latest developments in enterprise risk management.
Expectations and Workload
Students are expected to spend 150 hours working on this unit. As a guide a student should spend these approximate amounts of time on each of the following activities:
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Activities |
Hours |
1 |
Weekly Seminars (note if a class is on Good Friday it is cancelled) |
36 |
2 |
Class Test Week 6 |
12 |
3 |
Report |
40 |
4 |
Weekly readings/self study/preparation for exam |
62 |
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TOTAL |
150 |
Requirements to satisfactorily complete the unit
Satisfactory completion of ACCG 930 is an overall passing grade. There is no requirement to achieve a passing grade in each individual assessment component, including the final exam. However, since each assessment component contributes to the overall learning outcomes of the unit, students are expected to complete each assessment task in order to maximise their educational experience.
Week |
Week starting |
Topic |
1 |
Tuesday 1 March 2016 |
Course overview An introduction to ERM and creating enterprise value
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2 |
Tuesday 8 March 2016 |
Corporate governance, internal control and ERM frameworks
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3 |
Tuesday 15 March 2016 |
Risk culture and developing risk strategy Group Projects Assigned
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4 |
Tuesday 22 March 2016 |
ERM techniques and tools - monitoring risk. Group Projects Assigned and Revised |
5 |
Tuesday 29 March 2016 |
Introduction to categories of risk: Financial; Credit; Operational, and Market risk Risk Management Tools
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6 |
Tuesday 5 April 2016 |
In-class test - One Hour Measuring strategic and operational risk |
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9 April to 24 April |
Mid session break |
7 |
Tuesday 26 April 2016 | Financial risk management |
8 |
Tuesday 3 May 2016
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Reputation risk |
9 |
Tuesday 10 May 2016 |
Information risk
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10 |
Tuesday 17 May 2016 |
Project risk
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11 |
Tuesday 24 May 2016 |
Environmental risk and business lifecycle risk and Class presentations
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12 |
Tuesday 31 May 2016 |
Implementing an ERM strategy, challenges and future developments.and Class presentations
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13 |
Tuesday 7 June 2016 |
Course summary and Exam Revision
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Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:
Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html
New Assessment Policy in effect from Session 2 2016 http://mq.edu.au/policy/docs/assessment/policy_2016.html. For more information visit http://students.mq.edu.au/events/2016/07/19/new_assessment_policy_in_place_from_session_2/
Assessment Policy prior to Session 2 2016 http://mq.edu.au/policy/docs/assessment/policy.html
Grading Policy prior to Session 2 2016 http://mq.edu.au/policy/docs/grading/policy.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Complaint Management Procedure for Students and Members of the Public http://www.mq.edu.au/policy/docs/complaint_management/procedure.html
Disruption to Studies Policy http://www.mq.edu.au/policy/docs/disruption_studies/policy.html The Disruption to Studies Policy is effective from March 3 2014 and replaces the Special Consideration Policy.
In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
Results shown in iLearn, or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au.
Macquarie University uses the following grades in coursework units of study:
Grade descriptors and other information concerning grading are contained in the Macquarie University Grading Policy which is available at:
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
For all student enquiries, visit Student Connect at ask.mq.edu.au
For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.
When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.
Our postgraduates will demonstrate a high standard of discernment and common sense in their professional and personal judgment. They will have the ability to make informed choices and decisions that reflect both the nature of their professional work and their personal perspectives.
This graduate capability is supported by:
Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.
This graduate capability is supported by:
Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.
This graduate capability is supported by:
Assessment tasks and weightings are unchanged, but the course content has been updated to reflect the very latest developments in enterprise risk management.
Research & Practice and Global & Sustainability
This unit addresses global and sustainability issues as direct areas of study and as necessary implications arising from the materials, assessment and academic discussion and debate in classes/seminars. We promote enterprise sustainability by developing ability in students to research and locate information that relates to an organisations ability to identify and manage social, environmental and financial risks. We aim to provide students with an opportunity to obtain skills which will benefit them throughout their career. This unit gives you opportunities to conduct your own research and gives you practice in applying research findings in your assessment tasks. Students will be required to use library resources to research beyond these materials in undertaking research necessary to complete their tasks. The unit encourages students to read journals (as identified in the weekly teaching material) of interest and publications in these journals have a reference list at the end of each article containing all references cited by the author. These provide some guidance to references that could be used to research particular issues.