scholarly journals Benefits of Compliance and Risk Management

2021 ◽  
pp. 123-147
Author(s):  
Lilian Reis da Silva
Keyword(s):  
Risk Management ◽  
The United States ◽  
Management Program ◽  
Main Question ◽  
Public And Private ◽  
Foreign Corrupt Practices Act ◽  
Technology Governance ◽  
Risk Management Program ◽  
Financial Soundness ◽  
Risk Protection

Compliance is a program that aims to protect organizations from the occurrence of financial fraud, corruption, behavior and/or misconduct of employees linked to them, preventing their good reputation and financial soundness from being shaken. It is a tool whose purpose is to establish rules, standards and guidelines for internal processes within organizations. It was developed in the United States in 1970, and its practices were transformed into a legal institute, through the enactment of the Pioneer Law against Corruption FCPA (Foreign Corrupt Practices Act), motivated by the Watergate Case, which involved then-President Richard Nixon and members of his administration, by paying bribes in surveys in favor of his re-election. In this context, this article has as its main question: how do the benefits offered by the Compliance and Risk Management program collaborate to reduce the risks of fraud, illicit and corruption within organizations? The aim of this study was to present the benefits provided by the adoption of the Compliance and Risk Management program in public and private companies, in their internal processes and relationships with their segment of activity, and how they collaborate for fraud mitigation. The methodology was adopted as a bibliographic research, and it was about the benefits caused by fraud prevention programs. It was found that Compliance and risk management programs bring effective risk protection benefits, mitigating fraud and corruption, combined with new Information Technology Governance (IT) solutions, such as Enterprise Governance, Risk Management and Compliance (EGRC).

scholarly journals ELEMENTS OF AN URBAN TREE RISK MANAGEMENT PROGRAM

2006 ◽  
Vol 1 (1) ◽  
pp. 99 ◽  
Author(s):  
Mark Duntemann
Keyword(s):  
Risk Management ◽  
High Risk ◽  
Risk Reduction ◽  
Urban Forest ◽  
Urban Forestry ◽  
The United States ◽  
Management Program ◽  
Tree Population ◽  
Risk Management Program ◽  
National Boundaries

The development of effective hazard trees assessment practices has been an important focus of urban forestry for many years. When a publicly owned tree fails and causes property damage, personal injury or death in the United States, a potential consequence for a government agency is litigation. Although managing a large public tree resource can seem daunting, simple assessment parameters can be used to identify high-risk features within the tree population. Through analysis of the interaction between high-risk elements in the tree population and definition of a long-term, managed approach to tree risk reduction, strong policies and practices can be initiated. This program emphasizes two concepts. First, implementation of a well thought out risk reduction strategy improves the overall health of the urban forest, which results in a safer urban environment. This goal is universal, regardless of national boundaries. Second, documentation and implementation of tree risk management policies forms the foundation for a government agency’s defense, if litigation ever occurred.

Directors of Public and Private State-of-the-Art Multimillion Dollar Recreational Facilities Lead the Way in Risk Management Practices

2005 ◽  
Vol 29 (2) ◽  
pp. 92-107 ◽  
Author(s):  
Alvy E. Styles ◽  
Aaron L. Mulrooney
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
State Of The Art ◽  
Management Program ◽  
Recreational Facilities ◽  
Public And Private ◽  
College And University ◽  
Wide Range ◽  
Recreation Directors ◽  
Risk Management Program

The study's purpose was to identify and examine two main areas: the risk management practices and documents being used by recreation directors of state-of-the-art multimillion dollar recreational facilities and the number of lawsuits, settlements, and accidents. Due to the large amount of financial and legal risk exposure at these facilities, it is assumed that the facility directors would implement and rate as either important or very important the five elements of a bona fide risk management program: Surveys were distributed to recreational directors in senior colleges and universities throughout the US. The sample frame was listing in the National Intramural Recreational Sports Association Facilities of Distinction, Volumes, I, II, and III, and college and university facilities listed in “State of the Art Facilities” in Athletic Business ( N = 65). These institutions typically offer a wide range of recreational programs and have large recreational facilities that are either purpose-built or shared. A total of 35 recreational directors responded, a 54% return rate. The findings suggest that: (a) the importance of risk management practices has reached the university administration, (b) recreational directors are implementing risk management plans, (c) recreational directors are creating their own risk management manuals, and (d) the ACSM and the NIRSA documents are the two publications most commonly used by recreational directors to assist them in creating their risk management manuals.

scholarly journals Strategic Risk Management in Design Companies (Based on LLC Giprosintez)

2020 ◽  
pp. 135-145
Author(s):  
Irina Borisova
Keyword(s):  
Risk Management ◽  
Financial Stability ◽  
Management Program ◽  
Technology Planning ◽  
Management Scenarios ◽  
Strategic Risk ◽  
Risk Management Program ◽  
Design Activities ◽  
Risk Protection ◽  
Strategic Risk Management

The article reviews the risks that affect design activities with reference to and critical analysis of existing publications on risk management efficiency. As a result of systematization of risks, the most common problems in the field of design are characterized and a program for managing strategic risks is compiled. Thestrategic risk management program describes the existing categories of strategic risks that design companies tend to face, the design company’s strategic risk analysis, the strategic risk protection policy, strategic risk management scenarios and the organizational breakdown structure for evaluating and managing strategic risks, and the strategic risk management program monitoring procedures. The risk systematization identifies some risk categories, such as operational strategic risks (production risks including personnel-, technology-, planning-, industry- and financerelated, and commercial risks) and strategy-inherent risks. The author suggests a method for risk assessment by expert evaluation. The strategic risk management scenarios presented herein outline the measures that, being properly implemented, decrease the probability of risk occurrence and thus enable to make the risks more controllable and promptly respond to external and internal challenges. The strategic risk management program suggested by the author helps configure the potential strategic approaches to ensure financial stability of a design company.

Risk Management Practices at Higher Educational Sport and Recreation Centers

2002 ◽  
Vol 26 (2) ◽  
pp. 41-49 ◽  
Author(s):  
Aaron Mulrooney ◽  
Alvy Styles ◽  
Eric Green
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
Management Training ◽  
The United States ◽  
Management Program ◽  
Management Policy ◽  
Risk Management Process ◽  
Management Procedures ◽  
Risk Management Program ◽  
Sport Facilities

Risk management is an issue that has been previously addressed in recreation and athletic professions. The litigious nature of today's society requires that risk management procedures and policies be in place in recreation and athletic facilities. An institution that has implemented risk management procedures will better protect itself from costly litigation. This article is a follow-up to a 1997 article by Mulrooney & Green that discussed the overall risk management process and presented a risk management paradigm for recreational sport facilities. The purpose of this study was to examine college recreation facilities to elucidate if risk management procedures were in place in light of Spiegler v. State of Arizona (1996). This case resulted in a $5,000,000 verdict for the plaintiff, a result that might have been avoided with a properly developed and implemented risk management program. The study also examined the importance administrative personnel placed on having a risk management policy, and to what degree risk procedures and risk management training were implemented. A questionnaire designed and validated for utilization in a previous study was sent to 178 Division 1 universities throughout the United States. One hundred and twenty-three respondents completed and returned the survey. Based upon the results of the study, it is evident that the importance of risk management and its impact on liability reduction has not reached the administration of campus recreation and sport programs.

FEATURES OF ACCOUNTING AND ANALYTICAL SUPPORT FOR ENTREPRENEURIAL RISK MANAGEMENT

2021 ◽  
Author(s):  
Ruslan Skrynkovskyy ◽  
◽  
Oleh Kramar ◽  
Khrystyna Zamula ◽  
Vasyl Khmyz ◽  
...  
Keyword(s):  
Risk Management ◽  
Management Program ◽  
Negative Consequences ◽  
Development Trends ◽  
Stage Of Development ◽  
Risk Management Program ◽  
Industry Affiliation ◽  
Business Entities ◽  
Entrepreneurial Activities ◽  
The Impact

The article reveals the features of accounting and analytical support for entrepreneurial risk management. It was found that entrepreneurial risk is a certain act as a result of which the business entity may suffer losses. It is proved that entrepreneurial risks should be classified according to the specifics of origin, the specifics of the legal settlement, the specifics of industry affiliation, the specifics of the consequences, the specifics of the duration of the impact of entrepreneurial risk, the specifics of the expression of will, the specifics of the form, the specifics of the level of typicality, the specifics of the level of validity, the specifics of the possibility of assessing and resolving the impact, the specifics of the possibility of insuring entrepreneurial risks, the specifics of the occurrence of entrepreneurial risks by sources of origin, the specifics of the scale of the impact, the specifics of the level of losses and the specifics of character. It is established that the process of entrepreneurial risk management is the process of managing the activities of the business entity as a whole and its individual parts, and takes into account the management of not only existing risks but also potential entrepreneurial risks in space and time, that may occur in the future during entrepreneurial activities. It is determined that the process of entrepreneurial risk management should take into account the stage of preparation and implementation of appropriate measures to reduce the risk as a result of making erroneous decisions by business entities, the stage of reducing the impact of possible negative consequences that may occur, especially, if the entity operates in unexpected changes and alarming development trends, as well the stage of development and implementation of the Declaration on Risk Management and the Risk Management Program. It is established that the important information on which it is possible to estimate possibility of occurrence of entrepreneurial risks, is the accounting reporting. In the perspective of further research, it is recommended to study entrepreneurial risks in Ukraine in the context of such aspects as causes, consequences and management.

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