¶ … Audit in Risk Management
Agelova, B., Koleva, B. (2015). The role of internal audit in risk management system of the companies. Economic Development, 3: 1-10.
This study shows that the purpose of the internal audit is increasingly oriented towards mitigating risk so that the firm in question can reduce uncertainty and exercise adequate, effective and appropriate decision making processes. The focus of the study is, therefore, on the internal audit aspect of a company's risk management. The purpose of the study is situated in evaluation research -- here, that which is evaluated is the "contribution of the internal audit in the management of risks in the Macedonian enterprises" (Angelova, Koleva, 2015, p. 1).
The sample used for this included the managers of 30 Macedonian enterprises along with 48 internal auditors in the Republic of Macedonia. The survey method was used for gathering data and the finding of the study was that internal audits do have a "significant impact on improving the quality in the process of risk management" (Angelova, Koleva, 2015, p. 1).
The study is helpful in that it identifies the diverse approaches that an internal audit will utilize in assessing business operations: these approaches will range from overcorrections to verification...
Risk in Business Every business faces risks, and when appropriately handled, risks typically prove advantageous to businesses for both growth and profit. Risks are an ever-changing, fluid element to any businesses, so the constant evaluation and application of risk management methods is critical to the success of businesses. According to Douglas Hubbard, risk management is, "the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to
The management team is literally flying in the dark with no compass, altimeter, or method of navigating just how they are doing, which strategies are working or not, and what corrective action to take to improve. This lack of measurement is exacerbated by the cultural differences between guests, who may be from international locations. With no method in place for capturing the variation in expectations vs. experiences, the management
Awareness has been defined as conscious ideology of an issue or existence of broad subject matter (DTI, 11). This means not simply knowing about a subject but having the ability to interpret the subject and recognize the consequences of use of the subject. An individual must have some idea of the "working life to which an issue relates" in order to hold awareness of an issues (DTI, 10). Knowledge
Project Management Any project, no matter what the outcome is supposed to be, has to be properly managed from outset to completion to make sure that the outcome is the one desired. Without some type of plan, a project can easily become so overburdened with cost and time overruns that it is better just to abandon it and move on. The problem is though that project management often requires a large
Supply Chain Management Hypothesis defined Concepts of SCM and the evolution to its present day form Critical factors that affect SCM Trust Information sharing and Knowledge management Culture and Belief -- impact on SCM Global environment and Supply Chain management "Social" and "soft" parameter required for SCM Uncertainties This chapter aims to give an outline and scope of the study that will be undertaken in this work. The study lays out the issues faced by manufacturing organizations when it comes
The reality is however that legacy systems pose the greatest potential risk to any enterprise, as these platforms are anachronistic in terms of security support, lack many common safeguards, and don't have the necessary Application Programmer Interfaces (APIs) to scale globally as a secured platform (Gupta, Roth, 2007). Legacy systems were designed in an era where single authentication for an entire enterprise system was sufficient enough, and the concept
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