Controlling as an Information Source in Risk Management Process

2014 ◽  
Vol 9 (2) ◽  
pp. 165-176
Author(s):  
Joanna Dynowska ◽  
Anna Bartoszewicz
Keyword(s):  
Risk Management ◽  
Information Source ◽  
Supply Management ◽  
Management Process ◽  
Modern Management ◽  
Risk Management Process ◽  
Management Techniques ◽  
A Company ◽  
Process Controlling

An increasingly visible tool in identifying risk is controlling. Its tasks include collecting, processing, and analyzing information. Thus, in the stage of identifying the risk management process, controlling should supply management with information regarding the impacts of risks on particular departments of the company. The purpose of this article was to emphasize the role of controlling in the risk management process within an organization. This objective was achieved through a study of literature from research conducted in the field. Over the course of this study, the value of controlling and its role in the risk management process were revealed. Also, the role of budgeting was shown to be a key tool of controlling in the process of risk management. The implementation of controlling in a company permits full use of information and enables the use of modern management techniques, thereby facilitating making good decisions to rectify or mitigate risk for a specific organization or unit.

scholarly journals The Role of Accounting Information in Risk Management in the Saudi Banks under Digital Services: Exploratory Study

2021 ◽  
pp. 11-21
Author(s):  
Dr. Ahmed Zakaria Zaki Osemy
Keyword(s):  
Risk Management ◽  
Significant Relationship ◽  
Strong Correlation ◽  
Exploratory Study ◽  
Accounting Information ◽  
Management Process ◽  
Digital Services ◽  
Risk Management Process

This research aims to determine the role of using useful accounting information in risk management in Saudi banks under digital services. This study is based on an exploratory study and desk study from the literature review. This study revealed that there is a statistically significant relationship between using useful accounting information in the risk management process in Saudi banks under digital services and achieving positive results in general. There is a positive and strong correlation, the value of which is 0.94. This study, also, revealed that there is a statistically significant relationship between using accounting information in risk management in the Saudi banks under digital services and reducing risks. There is a positive and strong correlation, the value of which is 0.80. In addition, the study revealed that there is a statistically significant relationship between using accounting information in risk management in the Saudi banks under digital services and avoiding risks. There is a positive and moderate correlation, the value of which is 0.66. Finally, the researcher recommends the necessity of using useful accounting information in the Saudi banks properly to improve the quality of risk management process more and more, especially under digital services.

scholarly journals A New Sustainable Model for Risk Management—RiMM

2019 ◽  
Vol 11 (4) ◽  
pp. 1178 ◽  
Author(s):  
Bogdan Tiganoaia ◽  
Andrei Niculescu ◽  
Olivia Negoita ◽  
Mirona Popescu
Keyword(s):  
Risk Management ◽  
International Standards ◽  
Software Implementation ◽  
Management Model ◽  
Management Process ◽  
The Monte Carlo Method ◽  
Risk Management Process ◽  
Treat All ◽  
A Company

All activities of a company involve risk. In order to achieve its objectives, an organization must identify, analyze, evaluate and then treat all significant risks. According to ISO international standards in the risk field, risk management can be applied to an entire organization, at its many areas and levels, at any time, as well as to specific functions, projects and activities. An effective risk management helps top management of an organization to make optimum decisions and to prevent losses. This paper proposes a new sustainable model for risk management—RiMM. The Sustainable Risk Management model is based on the Monte Carlo method (adapted for risk management process) that is known in the literature but not or very rare applied for this issue of controlling the risks in an organization. There are proposed aspects regarding the design of the model (in five detailed steps—every step with sub steps), a software implementation and an example of a case study that emphasizes the way the model can be used (also to demonstrate its efficiency) for managing risks in an organization. At the end, on conclusions section, the most important points and the contributions of the paper are clearly presented.

scholarly journals The role of financial statements in decisionmaking in the risk management process

Revizor ◽  
2021 ◽  
Vol 24 (93) ◽  
pp. 71-77
Author(s):  
Jelena Krpić
Keyword(s):  
Risk Management ◽  
Management System ◽  
Financial Statements ◽  
Reliable Information ◽  
Management Process ◽  
Risk Management System ◽  
Risk Management Process ◽  
Credible Information

In order to establish a balance between the risks to which it is exposed and the achievement of set goals, the management organizes a risk management system. The management system also implies making appropriate decisions that should be based on relevant and credible information. Financial statements are currently compiled on the basis of relevant and reliable information, the usefulness of which has been improved by making them comparable, verifiable, timely and understandable, and so relevant source for risk management activities.

scholarly journals Risk management for a typical petroleum, oil and gas company in South Africa

2009 ◽  
Vol 6 (4) ◽  
pp. 346-356
Author(s):  
Jacobus Young
Keyword(s):  
Risk Management ◽  
South African ◽  
Oil And Gas ◽  
Management Process ◽  
Management Framework ◽  
Risk Management Framework ◽  
Risk Management Process ◽  
Oil And Gas Companies ◽  
A Company ◽  
Petroleum Oil

Risk management is becoming an important management discipline for most organisations including petroleum, oil and gas companies. However, before risks can actually be managed, it is imperative to ensure that a risk management framework is embedded. This research aims to research the general approach to a risk management process for a typical petroleum, oil and gas company operating in the South African industry and to determine the primary risk types for such a company. The result of this research could serve as an awareness instrument for petroleum, oil and gas industries to support and establish an effective risk management process, while striving to achieve industry and economic objectives. Furthermore, to serve as a working platform for those companies that is still in early stages of developing a practical risk management solution.

scholarly journals Information Systems Risk Management: Litterature Review

2019 ◽  
Vol 12 (3) ◽  
pp. 1
Author(s):  
Soumaya Amraoui ◽  
Mina Elmaallam ◽  
Hicham Bensaid ◽  
Abdelaziz Kriouile
Keyword(s):  
Decision Making ◽  
Information System ◽  
Risk Management ◽  
Literature Review ◽  
Optimal Allocation ◽  
Management Process ◽  
Business Risk ◽  
Risk Management Process ◽  
A Company ◽  
Comparative Analyse

The security of a company's information system (IS) is an important requirement for the pursuit of its business. Risk management contributes to the protection of the IS assets. It saves the organism from the losses caused by the emergence of unwanted events having an incidence on the IS objectives and consequently on its strategy. It has also an important role in the decision making about entering new opportunities. In addition, it promises an optimal allocation of information system resources. The risk management process aims to analyze what can happen and what are the eventual consequences for the organization before deciding what needs to be done and reducing the risks to an acceptable level. This paper presents a literature review of IS risk management and gives a comparative analyse of its processes, methods and standards.

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