Suchergebnisse

Obwohl viele Schweizer Unternehmen ein modernes Risikomanagement fördern, besteht in verschiedenen Bereichen Nachholbedarf. Der Beitrag zeigt fünf relevante Herausforderungen auf und liefert Handlungsempfehlungen für die Praxis. Die Erkenntnisse basieren auf dem neusten COSO-ERM-Rahmenkonzept und einer Risikomanagement-Studie in hiesigen Unternehmen. ; + ID der Publikation: hslu_47080 + Art des Beitrages: Fachmedien + Jahrgang: 90 + Sprache: Deutsch + Letzte Aktualisierung: 2018-09-21 16:46:15

Purpose
The purpose of this paper is to develop a theory of enterprise risk management (ERM).


Design/methodology/approach
The method is to develop a theory for ERM based on identifying the general risk management problems that it is supposed to solve and to apply the principle of deduction based on these premises.


Findings
ERM consists of risk governance, which is a set of mechanisms that deals with the agency problem of risk management and risk aggregation, which is a set of mechanisms that deals with the information problem of risk management.


Research limitations/implications
The theory, by identifying the central role of the Board of Directors, encourages further research into the capabilities and incentives of directors as determinants of ERM adoption. It also encourages research into how ERM adoption depends on proxies for agency problems of risk management, such as a decentralized company structure.


Practical implications
The theory encourages Boards of Directors to focus on understanding where the under and over management of risk are likely to be greatest, as opposed to the current practice of mapping a large number of risk factors.


Originality/value
The theory complements existing theory on corporate risk management, which revolves around the role of external frictions, by focusing on internal frictions in the firm that prevent effective risk management. It is the first work to delineate ERM vis-a-vis existing risk theory.

This book provides readers an understanding of the implementation of Enterprise Risk Management (ERM) for international construction operations. In an extended case study, it primarily focuses on Chinese construction firms (CCFs) based in Singapore. In this regard, the book explains the differences and similarities between Risk Management (RM), Project Risk Management (PRM) and ERM in the construction industry, and examines their linkages for international construction operations in a broader context. The explanation elaborates on how companies may adopt and implement RM, PRM and ERM as appropriate in their various operations, both in their home market as well as in overseas host markets. The book also reviews the whole spectrum of work relating to organizational behavior (OB) as one of the key underpinnings for companies to evaluate and implement ERM. It will benefit practitioners from the industry as well as academics interested in the implementation of ERM practices in international construction operations.

Purpose – This article aims to focus on raising awareness of the limitations of traditional "enterprise‐centric" views of enterprise risk management that ignore the risks that are inherited from key business and supply chain partners. In essence, enterprise systems implementations have allowed organizations to couple their operations more tightly with other business partners, particularly in the area of supply chain management, and in the process enterprise systems applications are redefining the boundaries of the entity in terms of risk management concerns and the scope of financial audits. Design/methodology/approach – The prior literature that has begun to explore aspects of assessing key risk components in these relationships is reviewed with an eye to highlighting the limitations of what is understood about risk in interorganizational relationships. This analysis of the prior research establishes the basis for the logical formation of a framework for future enterprise risk management research in the area of e‐commerce relationships. Findings – Conclusions focus on the overall framework of risks that should be considered when interorganizational relationships are critical to an enterprise's operations and advocate an "extended‐enterprise" view of enterprise risk management. Research limitations/implications – The framework introduced in this paper provides guidance for future research in the area of interorganizational systems control and risk assessment. Practical implications – The framework further highlights areas of risk that auditors and corporate risk managers should consider in assessing the risk inherited through interorganizational relationships. Originality/value – The paper highlights the need to shift from an enterprise‐centric view of risk management to an extended‐enterprise risk management view.

Internal audit has been used in enterprises and publicinstitutions management for a long time. Application of internalaudit may be implemented by external regulations(e.g. recent changes in the New York Stock Exchange rulesor Sarbanes-Oxley Act of 2002 in U.S.) or by entity itself onthe purpose to improve its operations. Depending on theindustry organization is acting, nature and complexion oforganization and other factors, internal audit function maybe used toward various directions. In financial institutions(banks, insurance companies, etc.) the need for the internalaudit activity is expressed over objective to assure cashflows, liquidity of the institution and safeguarding of theassets. On the opposite, in manufacturing companies internalaudit function will be related with operational processimprovement, supply management analysis or efficient useof assets. Public institutions (local governments, public servicecompanies) will pay attention over effective and efficientuse of funds and compliance with regulations; thereforethere is a demand mainly for compliance audit in suchinstitutions. At present internal audit is used in all industrytypes and covers many areas: starting from attitude on accountingand financial information, assessment of internalcontrols and operating activities and ending with consultationsto the senior management regarding strategic issuesand risk management. This article covers the survey of internalaudit interpretations, internal audit functions and therole of internal audit in enterprise risk management. Manyinternational leading companies have recognized value ofthe enterprise risk management model that allows managingenterprise risks as a respond to rapid environmentalchanges. Currently enterprise risk management became themost progressive area of studies for scientists specializing inrisk management. Comprehensive simulation of enterpriserisk management with incorporation of separate parts ofother subjects (such as internal audit, finance management,etc.) is making only the first ...