One of the most important components of effective corporate management in public joint stock companies is the risk management system and internal control. If earlier function of risk management in many corporations came down only to advisory, then now it becomes all more control when not only standards of work are established, but also supervision of appropriate execution of corporate procedures and actions is exercised. The obligation for the organization of a risk management system and internal control is fixed at the legislative level since September 1, 2018 (Paragraph 1 of Article 87.1 Federal Law of December 26, 1995 No. 208-FZ “About Joint-stock Companies”). For assessment of reliability and effective management of risks and internal control in public joint stock companies internal audit which obligation is also set by the law (Paragraph 2 of Article 87.1 Federal Law “About joint-stock companies”). Because regulations on a risk management system, internal control and internal audit for public joint stock companies become imperative, the relevance is acquired by researches on determination of essence of a compliance in general, and a corporate compliance in particular. Whether these concepts are new and having practical value in terms of increase in effective management of public joint stock company or it is no more as about real, effective functioning of service of risk management and internal control?
|Translated title of the contribution||CORPORATE COMPLIANCE: HOW MUCH WITHIN THAT WORD THERE LIES|
|State||Published - 2021|
Scopus subject areas
- Business, Management and Accounting(all)