The Institute of Risk Managers (IRM) was left with egg on its face this year after one of its examiners went missing.

Students handed in their projects, which they had sweated long and hard over for a year, in good faith and the IRM passed them on to the examiner.

However, the IRM never got the papers back. In fact, the examiner went AWOL and the institute's embarrassed governors were left twiddling their thumbs.

To overcome this quandary, a unanimous decision was taken to give the students whose work had been lost an automatic pass mark.

“It seemed to be the most honorable thing to do in the circumstances,” said an embarrassed member of the governor's board. “We should have taken a copy of the projects but we never thought this would happen.

“We have taken the necessary action against the examiner and we will be making sure students have a reserve copy in the future.”