Teribus. You raise an interesting question about risk assessment, both in the home and elsewhere. By extension this would also include "the duty of care"
This extends right the way through from the individual flat dwellers through to those that:
1) have charge of the building
2) Those that proposed to clad the building
3)Those that had charge of specifications the suitability of the cladding material
3) those who signed it off(and what qualifications they had to                        legitimately sign it off
4)the method statement of the contractors both supplying and installing the materials.
5)The inspection regime of the council's building control officers.
6)The inpsection regime of the fire officers for the building

From the little we know so far it would seem that a coach and horses could be driven through the existing legislation and inspection regime concerning this sad affair.
Perhaps building control should be passed to central government and be a branch of the Health and Safety executive.( I believe after the Piper Alpha disaster the HSE took over certain powers from the the Dept of Energy-so the proposal is not without precedent)
I would think that as a result of the coming public enquiry the points above(plus numerous others) will be encapsulated in a comprehensive set of measures to attempt to prevent a repetition of this catastrophe.