UNIVERSITAS INDONESIA

FACULTY OF ECONOMICS AND BUSINESS

ACCOUNTING DEPARTMENT
MASTER OF ACCOUNTING PROGRAM

SYLLABUS
RISK MANAGEMENT
ECAM801207
EVEN SEMESTER 2021/2022

No. Lecturer
1 Dr. Chaerul D. Djakman S.E., Ak., MBA
2 Elok Tresnaningsih
3 Dr. Vera Diyanti S.E., M.M.
4 Rachman Untung Budiman S.E., Ak., MBA., CFA

Subject Code ECAM801207

Subject Title Risk Management
Credit Value 2
Pre-requisite/
Co-requisite/
Exclusion
Role and Purposes The subject is given to provide students with knowledge, skills, ability and best practice
insight to apply risk management in many industries. After finishing the subject,
students capable :
1. Analyze and control of risk management effectiveness
Subject Learning 1) KNOWLEDGE IN APPLIED ACCOUNTING: Students are able to analyze issues across
Outcomes all core curriculum areas of accounting and accounting related fields
A. Students are able to analyze Governance, Risk Management, Internal Control
issues and their impact on decision making process from multiple perspectives
(LO 6.5) TLA-ASM
Students are able to analyze Governance and Risk Management issues and
their impact on decision making process from multiple perspectives (LO 5.4)
- Analyze an organization’s risks and opportunities using a risk management
framework

Subject Synopsis/
Indicative Syllabus Week Topic LO Required
# Reading
1 Introduction to Risk Management: 1. OCEG Redbook
• The Concept of 3.0
Governance, Risk, and Chapter 1 (Page 1-
Compliance 12)
• Terminology, Concepts and 2. COSO ERM 2017,
Scope of Risk Management Chapter 1 & 2
• Three Lines Model 3. ISO 31000 (2018),
Introduction,
Chapter 3
4. Three Lines
 Model IIA 2020
5. Harvard Business
Review - Managing
Risks: A New
Framework

2 Fundamental of ERM: 1. COSO ERM

• ERM Framework 2017, Chapter 5
• Risk Management Process 2. ISO 31000
(2018), Chapter 4-6

3 ERM Tools and Method: 1. COSO ERM

• Risk Capacity, Risk 2017, Chapter 7
Appetite, Risk Tolerance, 2. COSO Risk
and Risk Limit Appetite – Critical to
Success

4 Risk Identification 1. COSO ERM 2017,

 Risk Assessment and Considerations Chapter 8 – Principle
 Risk Causes 10
 Case Studies 2. ISO 31000 (2018),
Chapter 6.4.2
3. LAM chapter 13 –
phase 2

5 Risk Assessment and Prioritization 1. COSO ERM 2017,

• Risk Likelihood and Impact Chapter8 – Principle
• Risk Evaluation 11-12
• Risk Prioritization 2. ISO 31000 (2018),
• Case Studies Chapter 6.4.3- 6.4.4
3. LAM, chapter 13 –
phase 2

6 Risk Response 1. COSO ERM 2017,

• Risk Response Considerations Chapter 8 – Principle
• Risk Response Selection 13
• Case Studies 2. ISO 31000
(2018), Chapter
6.5

7 Risk Culture 1. LAM, Chapter 6

2. Risk Culture: -
• Risk Culture Model – IRM
Resources for
• Case Studies Profesionals
3. Risk Culture in
Financial
Organization
4. FSB Risk
- Culture
 8 Integration of Performance 1. COSO KRI Paper
Management & Risk Management 2. LAM, Chapter 17

9 Trend watch: Update on current 1. HUNZ, Chapter 5

risk management practices

10 The application of ERM in an organisation Guest Lecture

within selected sectors (e.g. Banking,
Insurance, Oil & Gas, etc.)

Teaching/Learning Facilitation is given with emphasis on the proportional discussion of risk management
Methodology and internal audit practice/case studies for each learning objective.

Discussion carried out in the form of presentations of practice/case analysis. In each

session, students were asked to explore the main issues and presents the highlights in
class as demonstration their competencies both in strategic and operational level.

Facilitators are expected to encourage students to conduct proactive discussion along

with a focus on building comprehensive analysis perspective and deliver alternative
solutions.

Plagiarism and Autoplagiarism are strictly forbidden, as stated in the Decree of Fakultas
Ekonomi UI No. 352/H2.F6.D1/HKP.02.04.SKD/2013 about the provisions of academic
sanctions for plagiarism and fraud in the writing of the Final Work, the Substitution
Paper, the Assignment, and the Take Home Exam

Assessment Specific Assessment % Intended Learning Outcomes to

Method in Methods/Taks Weighting be Assesed
Alignment with 5.4.2 5.4.2
Intended Learning Continuous Assessment 100
Outcomes INDIVIDUAL 80%
Mid Term Exam 25% V
(LO Percentage in exam)
Final Exam 25% V
(LO Percentage in exam)
Individual Assignment 15%
Individual Participants 15%
GROUP 20%
Group Assignment 20%

Details of learning Learning methods for this subject are:

method 1. Lecturing ;
2. Group Discussion;

Almost in all sessions and especially in specific sessions, the students will participate in
group discussion. The discussion was designed to apply their competencies to solve
some assignments. Each group will present the results of discussions with the lecturer
as facilitator. The discussion and presentations are through online learning and
expected to improve students’ conceptual understanding and its implementation and
speed up the learning curve, especially when they proactively participate in other group
 presentation.

Summary of Learning Experiences:

1. Information Technology – Student will be exposed to the use of information
technology, including information gathering and knowledge for the case analysis
either from the internet or the library information system and submitting
presentation or case analysis report in that required processing by IT applications.
2. Interpersonal Relations and Teamwork – Students will be divided into groups,
each group should provide group case analysis required which required
interpersonal and teamwork skills.
3. Study in diverse and multicultural environment – the Master of Accounting
program upholds equality in all aspects, accepting students from all cultural
backgrounds with diverse almost in all aspects, student required to manage
diversity properly and respect each other.
4. Reflective Thinking – Students are required to provide short explanations on what
they think they have acquired by attending this class. This reflective short essay
should be submitted to the program on the day of the midterm and final term
exams.

Student Study
Effort Expected Class Contacts:
Lectures 10 Hours
In-Class Discussion 15 Hours
Other student study effort:
Preparation for structured group assignment 5 Hours
Individual study effort 14 Hours
Total 44 Hours

Reference Main Reading:

1. OCEG Redbook – GRC Capability Model Version 3.0
2. COSO – Enterprise Risk Management Integrating with Strategy and
Performance (2017)
3. ISO 31000:2018 – Risk Management Guidelines
4. Implementing ERM: From Methods to Application, 2017, James Lam
(LAM)
5. Harvard Business Review - Managing Risks: A New Framework (June
2012) by Robert S. Kaplan & Anette Mikes
6. COSO: Risk Appetite – Critical to Success (2020)
7. COSO KRI Paper – Developing Key Risk Indicators to Strengthen
Enterprise Risk Management – (2010)
8. FSB - Guidance on Supervisory Interaction with Financial Institutions on Risk
Culture (2014)
9. Enterprise Risk Management – Modern Approaches to Balancing Risk and
Reward, 2019, Stefan Hunziker, SpringerGabler (HUNZ)
10. The IIA’s Three Lines Model – An update of the Three Lines of Defense
(2020)