Methodological Features of Risk Management in Internal Control Systems
Economics 21 Interuniversity Journal, Year VI, Book 1, 2016
15 Pages Posted: 12 Apr 2017
Date Written: June 30, 2016
Abstract
Instruments for an alternative approach to risk management in internal control systems under revolutionary changes in an organization’s development are presented in this paper. The functions and application of instruments for the identification and measurement of the threats to the organization are demonstrated in the first section of the paper. The role and application of instruments to counteract the threats to the organization are explained in the second section of the paper. The instruments proposed in the paper are illustrated with some results from the research project ‘Theoretical fundamentals of an internal standard of measurement and evaluation of threats to organizations’, financed by the National Science Fund of the Bulgarian Ministry of Education and Science.
Keywords: Internal Control Systems, Risk Management, Methods and Instruments
JEL Classification: C65, M10
Suggested Citation: Suggested Citation