MIT ENTERPRISE RISK MANAGEMENT DIE ENTSCHEIDUNGSQUALITÄT ERHÖHEN - Wie das Abwägen von Chancen und Risiken in der wertorientierten Unternehmensführung zu Mehrwert führt (With Enterprise Risk Management Increasing the Quality of Decision – How Weighing Up Opportunities and Risks in Value-Based Management Leads to Added Value)

2019 ◽  
Author(s):  
Werner Gleißner ◽  
stefan hunziker
Keyword(s):  
Risk Management ◽  
Enterprise Risk Management ◽  
Added Value ◽  
Value Based Management ◽  
Enterprise Risk

Enterprise risk management and Solvency II: the system of governance and the Own Risk and Solvency Assessment

2020 ◽  
Vol 21 (4) ◽  
pp. 317-332 ◽  
Author(s):  
Pablo Durán Santomil ◽  
Luis Otero González
Keyword(s):  
Risk Management ◽  
Insurance Industry ◽  
Solvency Ii ◽  
Enterprise Risk Management ◽  
Insurance Companies ◽  
Legal Form ◽  
Content Type ◽  
Enterprise Risk ◽  
Solvency Assessment

Purpose The purpose of this paper is to analyze how enterprise risk management (ERM), the system of governance and the Own Risk and Solvency Assessment (ORSA) have been boosted with the entry of Solvency II. Design/methodology/approach For this analysis, the authors have undertaken a survey of chief risk officers (CROs) working in Spanish insurance companies. Findings The results show that Solvency II has definitely promoted ERM in the European insurance industry and improved the system of governance of the insurance companies, and that the perceived value of the ORSA for the companies is higher than the cost. It is clear that the quality of ERM implemented by companies is higher in those that face more complex risks and with greater interdependencies – that is, larger companies, foreign insurers and insurers with several lines of business – but is unaffected by the legal form of the entity (mutual/corporation). Originality/value This study conducts primary research with surveys of CROs and develops a measure of the quality of ERM implemented by insurance companies.

scholarly journals The Effectiveness of Enterprise Risk Management and Internal Audit Function on Quality of Financial Reporting in Universities

2017 ◽  
Vol 9 (4(J)) ◽  
pp. 230-241
Author(s):  
Wadesango N ◽  
Mhaka C.
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Financial Reporting ◽  
Internal Audit ◽  
Enterprise Risk Management ◽  
State Universities ◽  
Internal Audit Function ◽  
Enterprise Risk ◽  
The Impact

This study examined the impact of enterprise risk management (ERM) and internal audit function (IAF) on the financial reporting quality (FRQ) of state universities in Zimbabwe. Utilizing a dataset of 250 respondents from across nine (9) state universities, the researchers examined the effectiveness of ERM and the IAF on the quality of financial reporting in state universities. The researchers employed the contingency theory and studied each university separately to report on items that are specific to each and then also establish a commonality in the definition of parameters to be used in setting up the benchmark against which future performance may be measured. The findings were that there is a strong and significant relationship between ERM and the FRQ and also that there is a positive relationship between the internal audit function and FRQ. Quality internal audit results improved corporate governance systems. The results also underscore the significance and need for central government to establish and monitor a system of good ERM processes that minimize corporate governance breaches and enhance integrity and independence in financial reporting in state universities.

scholarly journals Knowledge Management in Support of Enterprise Risk Management

2019 ◽  
pp. 284-307
Author(s):  
Eduardo Rodriguez ◽  
John S. Edwards
Keyword(s):  
Risk Management ◽  
Knowledge Management ◽  
Knowledge Sharing ◽  
Risk Control ◽  
Perceived Value ◽  
Perceived Quality ◽  
Enterprise Risk Management ◽  
Enterprise Risk ◽  
Management Concepts

This chapter examines possible relationships between knowledge management constructs related to knowledge sharing and two risk management concepts: perceived quality of risk control and perceived value of enterprise risk management. From a literature review, relationships with eight knowledge management variables covering people, process, and technology aspects were hypothesized. The results showed that the perceived quality of risk control is significantly associated with four knowledge management variables: perceived quality of risk knowledge sharing, perceived quality of communication among people, web channel functionality, and risk management information system functionality. However, the relationships of the knowledge management variables to the perceived value of enterprise risk management are not significant. The authors conclude that better knowledge management is associated with better risk control, but that more effort needs to be made to break down organizational silos in order to support true enterprise risk management.

scholarly journals The Effectiveness of Enterprise Risk Management and Internal Audit Function on Quality of Financial Reporting in Universities

2017 ◽  
Vol 9 (4) ◽  
pp. 230
Author(s):  
Wadesango N ◽  
Mhaka C.
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Financial Reporting ◽  
Internal Audit ◽  
Enterprise Risk Management ◽  
State Universities ◽  
Internal Audit Function ◽  
Enterprise Risk ◽  
The Impact

This study examined the impact of enterprise risk management (ERM) and internal audit function (IAF) on the financial reporting quality (FRQ) of state universities in Zimbabwe. Utilizing a dataset of 250 respondents from across nine (9) state universities, the researchers examined the effectiveness of ERM and the IAF on the quality of financial reporting in state universities. The researchers employed the contingency theory and studied each university separately to report on items that are specific to each and then also establish a commonality in the definition of parameters to be used in setting up the benchmark against which future performance may be measured. The findings were that there is a strong and significant relationship between ERM and the FRQ and also that there is a positive relationship between the internal audit function and FRQ. Quality internal audit results improved corporate governance systems. The results also underscore the significance and need for central government to establish and monitor a system of good ERM processes that minimize corporate governance breaches and enhance integrity and independence in financial reporting in state universities.

scholarly journals The Effect Of Chief Risk Officer (CRO) On Enterprise Risk Management (ERM) Practices: Evidence From Malaysia

2010 ◽  
Vol 9 (11) ◽  
Author(s):  
Wan Norhayate Wan Daud Daud ◽  
Ahmad Shukri Yazid ◽  
Hj Mohd Rasid Hussin
Keyword(s):  
Risk Management ◽  
Strong Influence ◽  
Research Work ◽  
Listed Companies ◽  
Enterprise Risk Management ◽  
Regression Analyses ◽  
The Public ◽  
Enterprise Risk ◽  
Comprehensive Survey

This study investigates the level of Enterprise Risk Management (ERM) adoption within the Public Listed Companies (PLCs) in Malaysia and the influence of Chief Risk Officers (CROs) on ERM practices. Included in this particular study is a comprehensive survey on 500 companies from the main board of public listed companies in the Malaysian Bourse. Key findings of this research work reveal that only 42% of the companies surveyed have completely adopted ERM and based on regression analyses, the ‘quality’ of CROs has a strong influence on the level of ERM adoption within the PLCs involved in the survey.

scholarly journals Knowledge Management in Support of Enterprise Risk Management

2014 ◽  
Vol 10 (2) ◽  
pp. 43-61 ◽  
Author(s):  
Eduardo Rodriguez ◽  
John S. Edwards
Keyword(s):  
Risk Management ◽  
Knowledge Management ◽  
Knowledge Sharing ◽  
Risk Control ◽  
Perceived Value ◽  
Perceived Quality ◽  
Enterprise Risk Management ◽  
Enterprise Risk ◽  
Management Concepts

Risk management and knowledge management have so far been studied almost independently. The evolution of risk management to the holistic view of Enterprise Risk Management requires the destruction of barriers between organizational silos and the exchange and application of knowledge from different risk management areas. However, knowledge management has received little or no attention in risk management. This paper examines possible relationships between knowledge management constructs related to knowledge sharing, and two risk management concepts: perceived quality of risk control and perceived value of enterprise risk management. From a literature review, relationships with eight knowledge management variables covering people, process and technology aspects were hypothesised. A survey was administered to risk management employees in financial institutions. The results showed that the perceived quality of risk control is significantly associated with four knowledge management variables: perceived quality of risk knowledge sharing, perceived quality of communication among people, web channel functionality, and risk management information system functionality. However, the relationships of the knowledge management variables to the perceived value of enterprise risk management are not significant. We conclude that better knowledge management is associated with better risk control, but that more effort needs to be made to break down organizational silos in order to support true Enterprise Risk Management.

scholarly journals Contribution of enterprise risk management and internal audit function towards quality of financial reporting in universities in a developing country

2017 ◽  
Vol 7 (2) ◽  
pp. 170-176 ◽  
Author(s):  
Newman Wadesango ◽  
Charity Mhaka ◽  
Ongayi Vongayi Wadesango
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Financial Reporting ◽  
Internal Audit ◽  
Enterprise Risk Management ◽  
Internal Audit Function ◽  
Enterprise Risk ◽  
Governance Processes ◽  
State Enterprises

Quality of financial reporting is limited to issues of compliance to statutory provisions under which state enterprises in Zimbabwe operate, usefulness of the reports produced and their impact on the national fiscus. It is thus measured by way of compliance to these expectations and is indicated by way of a disclosure index signifying the presence of each of the expected aspects. This study therefore sought to establish the contribution of enterprise risk management and internal audit function towards the quality of financial reporting in universities in Zimbabwe. The study adopted a desktop analysis where relevant literature was reviewed. Quality of internal audit function was found to influence quality of financial reporting in that the strength, or quality, of the IAF will contribute to a distinctly different control environment depending on the strength of the good corporate governance in the university. Findings of this desktop research have undoubtedly revealed the gaps in the governance processes in state universities and it is envisaged that a careful analysis of these lacunas will provide a guide in the development of strategies and policy that strengthen state enterprise governance processes. It is hoped that this will help the parent ministry in charge of state enterprises, and, the relevant management of specific state enterprises to determine the magnitude of resources and efforts for implementation of efficient and effective enterprise risk management, internal audit function and corporate governance systems.

scholarly journals ENTERPRISE RISK MANAGEMENT (ERM) DAN KUALITAS LAPORAN KEUANGAN BUMN DI INDONESIA

2020 ◽  
Vol 7 (1) ◽  
pp. 4154
Author(s):  
Aviani Widyastuti
Keyword(s):  
Risk Management ◽  
Financial Statements ◽  
Enterprise Risk Management ◽  
Sample Population ◽  
Enterprise Risk ◽  
Negative Effect ◽  
The Government ◽  
Relationship Of ◽  
The Relationship

<p><em>This study aims to see how disclosure of Enterprise Risk Management (ERM) to SOEs in Indonesia influences the quality of financial statements. In addition, to see the size of the company as a moderator in strengthening the relationship of ERM disclosure to the quality of financial statements. Through this type of associative research, this study uses a sample population of all SOEs in Indonesia with a 2015-2017 observation period. Based on the regression analysis using eviews, it was found that the ERM disclosure on SOEs had a negative effect on the quality of financial statements because the composition of the largest shares in SOEs was the government itself so there were many interests and also government intervention in it. In addition, company size in research strengthens the relationship of ERM disclosure to the quality of financial reports. This is because large companies tend to disclose ERM in order to gain the trust of stakeholders.</em></p><p><strong>Key Words : <em>Enterprise Risk Management, Quality of Financial Statements, SOEs</em></strong></p>

scholarly journals COSO’s Enterprise Risk Management Framework in Agriculture Startup to Support the Achievement of SDGs Pillars

2021 ◽  
Vol 5 (1) ◽  
pp. 18
Author(s):  
Ita Febrianti ◽  
Novita Novita
Keyword(s):  
Risk Management ◽  
Quantitative Analysis ◽  
Enterprise Risk Management ◽  
Added Value ◽  
Qualitative And Quantitative Analysis ◽  
Management Framework ◽  
Qualitative And Quantitative ◽  
Risk Management Framework ◽  
Enterprise Risk ◽  
Collection Methods

COSO’s Enterprise Risk Management (ERM) is considered to increase the added value of the firm. This study's primary purpose is to discuss the implementation of the COSO’s ERM framework on agricultural startup in supporting the achievement of the SDGs pillars. Data collection methods used are questionnaires. This research uses qualitative and quantitative analysis using the Smart PLS application. It aims to determine the effect of implementation of COSO’s ERM as an added value to agricultural startup as a goal to support the achievement of SDGs pillars. Overall, the implementation of COSO’s ERM at the startup of Sayurbox has a significant effect in supporting the achievement of the economic, social and environmental SDGs pillars.

scholarly journals Knowledge Management in Support of Enterprise Risk Management

2015 ◽  
pp. 108-127 ◽  
Author(s):  
Eduardo Rodriguez ◽  
John S. Edwards
Keyword(s):  
Risk Management ◽  
Knowledge Management ◽  
Knowledge Sharing ◽  
Risk Control ◽  
Perceived Value ◽  
Perceived Quality ◽  
Enterprise Risk Management ◽  
Holistic View ◽  
Enterprise Risk

Risk management and knowledge management have so far been studied almost independently. The evolution of risk management to the holistic view of Enterprise Risk Management requires the destruction of barriers between organizational silos and the exchange and application of knowledge from different risk management areas. However, knowledge management has received little or no attention in risk management. This paper examines possible relationships between knowledge management constructs related to knowledge sharing, and two risk management concepts: perceived quality of risk control and perceived value of enterprise risk management. From a literature review, relationships with eight knowledge management variables covering people, process and technology aspects were hypothesised. A survey was administered to risk management employees in financial institutions. The results showed that the perceived quality of risk control is significantly associated with four knowledge management variables: perceived quality of risk knowledge sharing, perceived quality of communication among people, web channel functionality, and risk management information system functionality. However, the relationships of the knowledge management variables to the perceived value of enterprise risk management are not significant. We conclude that better knowledge management is associated with better risk control, but that more effort needs to be made to break down organizational silos in order to support true Enterprise Risk Management.

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