Ключевые концепции современного ERM
The second part of the scientific monograph contains the results of analyzis the effectiveness of corporate risk management and internal control systems. The scientific literature contains a fairly large number of methods that allow to evaluate the effectiveness of managerial decisions within the company, but most of them are designed to formally assess the functionality of a particular system of risk management in relation to the world wide "best practices". The monograph presents the recommendations on the organization of integrated risk management methodology and assess its effectiveness in accordance with modern trends in decision-making, such as short-termizm focus on short-term business profitability. The theoretical propositions supported by empirical calculations, analytical studies and practical recommendations. The emphasis is on managing business uncertainty, and as a result, growth in the discount rate and the reduction of investment attractiveness as a result of lack of transparency of administrative processes and the lack of clear criteria for evaluating the effectiveness of the processes. This monograph is intended for students, teachers and scientists, researchers, and professionals operating in the field of risk management.
The article analyzes the moral considerations, legal and market incentives for organizations to implement anti-corruption compliance. It also assesses the role of anti-corruption compliance in prevention of corruption offences.
This article represents a practical model of risk management and internal control sys-tems integration within corporate governance structure. The provided model reduces the risk of duplicate management functions, minimizes bureaucracy and costs intensity of processes, motivates management to obtain results and covers all levels of company management. The ability to evaluate the management processes efficiency in relation to the main objectives of the company as well as the opportunity to control the management process at each level are distinctive features of the model.
This article is devoted to the control environment in the context of the internal control system of the enterprise. The author defines the system of internal control, describes internal control elements. There is a detailed description of the elements of the control environment of the enterprise in the article. This article also contains information how to make control environment assessment.
In this article investigated the formation and development of the internal audit as one of the forms of internal control. Increased the role of internal audit in risk management processes is shown by identifying opportunities to improve business efficiency.
Internal control in the conduct of an audit creates real prerequisites for successful business development and growth of competitiveness of the enterprise. The main advantages of the availability of internal control system in the organization consist in the fact that in internal control may improve the quality of accounting of the company; internal control system has a positive effect on the further development of business. Another advantage of the presence of the internal control system is to improve the quality of work of the branches and structural divisions of the company in connection with the supervision of their activities. Internal control system the company is able to identify the hidden reserves on the use of material and labor resources, and stimulate the development of measures for reduction of production cost. In the article the notion and the basic elements of the internal control system during the conduct of an audit. Reviewed international framework for internal control in the conduct of an audit, which are used for the development of domestic procedures of internal control. The comparison and analysis of the concepts of internal control on the proposed criteria: definition; target group; orientation; principles; goals and objectives; composition; performance evaluation.