Read the Abraaj Group case study belowCase Study: The Abraaj Group Scandal and Collapse (2018-19)The Abraaj Group, a Dubai-based private equity firm, is a narrative of success turned dark comedy. Founded by Arif Naqvi, Abraaj became one of the most influential emerging-market buy-out firms after 16 years of operations with more than $14 billion in AUM. In 2018, with its reputation tattered, the firm’s promising equity story collapsed in just 4 months.In April 2019 Naqvi and then-executive Mustafa Abdel-Wadoodwere arrested on U.S charges of defrauding investors. U.S prosecutors claimed that the management had been lying about the firm’s performance since 2014, thereby inflating Abraaj’s value by more than half a billion dollars. The charges also pinned the executives with the misappropriation of millions of dollars of investor’s funds in Madoff-esquefashion. Also, there is an ongoing investigation as towhether or notthe dynamic duo bribed Pakistani politicians. In June, Mustafa Abdel-Wadoodadmitted in court that he deceived investorsin an attempt tohide losses and raise further capital.1The grade is provisional until confirmed by the relevant assessment board(s).Your work will be marked in grades rather than percentages. This is considered to deliver the most accurate and fair outcomes for students. Each assessmentthat you undertakewill be assessed using the common grading system. Information about the grading system can be found in your Student Handbook, Section 13.The Grade Criteria can be found in Appendix C of your Student Handbook.
Assessment Brief: LSBM302-2020-21Page 54.Learning Outcomes for the assessmentThis item of assessment covers the following learning outcomes. For the full list of learning outcomes for the module, please refer to the Module Study Guide.•Identify the various risks facing organisations, produce a range of definitions of risk and risk management, describe the usefulness of the various definitions and list the characteristics of a risk that need to be identified in order to provide a full risk description;•Classify risks into categories using recognised frameworks and models, describe options for classifying risks according to the nature, source, timescale, impact and consequences of the risk; and introducing reputational risk;•Understand and critically apply models and frameworks designed to measure and model different business risks including scenario planning.•Recommend ways by which organisations can manage and reduce risk exposures including describing the importance of risk assessment as a critically important stage in the risk management process; summarizingthe most common risk assessment techniques; summarizing the alternative approaches to defining upside of risk and the application of these approaches for core processes; identifying the key features of an enterprise-wide approach; summarizing the importance of risk appetite as a planning tool in a risk management initiative; and describing the risk response options in terms of tolerate, treat, transfer and terminate explaining how these can be shown on a risk matrix.•Describe the nature and purpose of internal control and the contribution that internal control makes to risk management; summarize the importance of the control environment in an organization and provide a structure for evaluating the control environment (CoCo); explain the importance of governance, risk and compliance (GRC) and the relationship to the three lines of defence model; describe the steps involved in the successful implementation of a risk management initiative, together with the barriers and enablers; and outline developments associated with managing emerging risks, resilience and the changing face of risk management.•Use quantitative and qualitative models to assess risk while stimulating an enquiring, analytical and creative approach to Risk Management issues and to encouragingindependent judgement and critical self-awareness.
