文献信息：
文献标题 ：Perspectives on Internal Control and Enterprise Risk Management (内部控制与企业风险管理透视) 国外作者： dil Kaya
文献出处：《Eurasian Business Perspectives》,2022,11(02):379-389
字数统计： 英文 2788 单词， 16276 字符；中文 5242 汉字
外文文献：
Perspectives on Internal Control and Enterprise Risk Management
Abstract Grounded on the literature review on Enterprise Risk Management (ERM) this paper aims to analyze the extent and the effectiveness of internal control as well as ERM and英语教学反思案例 to explore their connection with the value creation. A theoretical lens is used to discuss whether effective internal control and ERM enhance performance and increase
value 宜为凯姆creation ability. ERM is most frequently defined with the reference to the 2004 Guidance document published by Committee of Sponsoring Organizations of Treadway Commission (COSO). Proponents of COSO’s ERM Integrated Framework describe this framework as “a world-level template for best practice”, and claim that ERM used by management to enhance an organization ability to manage uncertainty and to consider how much risk to accept as it strives to increase stakeholder value. Additionally the Internal Control— Integrated Framework is a viable and suitable framework for designing, implementing, conducting and assessing the effectiveness of internal control and for reporting. The relationship between value creation and ERM is widely investigated in academic literature. Empirical studies on the value creation abilities of ERM and internal control suggest that there is a positive relation between value creation, internal control and ERM. These studies reveal that firm performance and value are enhanced by high-quality
ERM adoption and implementation. Using different identifier of ERM such as Standard and Poor’s risk management ratings or presence of a Chief Risk Officer, the findings of empirical studies reveal that higher ERM quality is associated with less resource constraint, better corporate governance and better accounting performance. Additionally academic studies indicate that the risk-based communication is reinforced with ERM implication.
Keywords: Enterprise risk management , Internal control , Value creation
1.Introduction
Changing business and operating environments, increased competition, technology driven, global scale and complex structure of companies have increased the importance of effective internal control and risk management. Enterprise risk management (ERM) is a process that is viewed today as an indicator for optimal achievement of companies’ mission and execution of its strategy. This is also a coping mechanism vis -`a-vis new demand for reporting purposes and additional compliance ma
ndate placed on organizations to have effective internal control and risk management. Rating agencies e.g. Standard & Poor’s have included ERM assessment in ratings of insurance companies since 2022. Furthermore the stakeholders’ demand for more transparency and accountability on the business decisions and governance forces enterprises to have effective internal control and ERM. Committee of Sponsoring Organizations of Treadway Commission (COSO) has released two frameworks provide guidance for management in implementing and evaluating effective enterprise risk management and internal control processes, leading to the improvement of organizational performance and 餐饮业和集体用餐配送单位卫生规范governance. These are COSO’s Internal Control—Integrated Framework and COSO’s Enterprise Risk Management—Integrated Framework. COSO guidance is recognized as being globally and its integrated frameworks are viewed as being the principal tools that enable organizations to enhance their capacity in dealing with uncertainty that presents both risk and opportunity with the potential to erode or enhance 慢性病value.
Proponents of COSO’s ERM Integrated Framework describe this framework as “a world-level template for best practice”, and claim that ERM used by management to strengthen an organization ability to manage uncertainty and to consider how much risk to accept as it strives to increase stakeholder value. Additionally the Internal Control—Integrated Framework is a viable and suitable framework for designing, implementing, conducting and assessing the effectiveness of 多工位冲压机械手internal control and for reporting. COSO’s principal argument is that the essential prerequisites of firms’ long term success are good risk management and internal control (DeLoach and Thomson 2022). While internal control has been always an important field for internal 财务管理and external audit, risk management has been a vital concern on the fields of finance and insurance but it is received widespread attention following accounting and corporate scandals in the beginning 2000s and 2022 global crisis (Wu et al. 2022). Section 404 of Sarbanes-Oxley Act and its impacts and repercussions on global capital markets have put the spot
light on COSO’s Internal Control Framework and the recent economic crisis has heightened considerably the importance of ERM (Landsittel and Rittenberg 2022).
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