Risk management is also a fundamental component of good corporate governance.
Good corporate governance means that the board must identify and manage all risk for a company.
And Internal control system is very important risk management system for company.
Risk management is also a fundamental component of good corporate governance.
Good corporate governance means that the board must identify and manage all risk for a company.
The Cadbury Report noted that risk management should be systematic and also embedded in company procedures. Furthermore there should be a culture of risk awareness.
The report’s initial definition of risk management was ‘the process by which executive management, under board supervision, identifies the risk arising from business and establishes the priorities for control and particular objectives’.
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