<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The paper presents a systemic analysis of the key factors of risk management for the internal managerial control (IMC) system for public entities in Romania. The risk management approach offers a broad view regarding the necessary tasks for having a rigorous, efficient, effective and transparent use of public funds. The necessity of taking a managerial decision on a current matter has its own peculiarities and effects, involving the actual way and manner in which the entity in question will go further. The effects of this kind of decisions can affect the entity in some precise moments. In this point, risk management should be present, according to the applicable approaches, in order to evaluate, among other things, the vulnerability of the system which is exposed to the effects of a decision that has been taken into account. Developing an internal control system is perceived as a process that involves improving performance and governance, rather than introducing a new, additional system. The paper is presenting some considerations regarding the effectiveness of risk management approach used in Romanian public entities, based on the latest reports published. There are also pointed out some principal causes for this implementation level of Risk management Standard, along with some selective proposals for improving the results of this risk based approach</p>
</abstract>

The paper presents a systemic analysis of the key factors of risk management for the internal managerial control (IMC) system for public entities in Romania. The risk management approach offers a broad view regarding the necessary tasks for having a rigorous, efficient, effective and transparent use of public funds. The necessity of taking a managerial decision on a current matter has its own peculiarities and effects, involving the actual way and manner in which the entity in question will go further. The effects of this kind of decisions can affect the entity in some precise moments. In this point, risk management should be present, according to the applicable approaches, in order to evaluate, among other things, the vulnerability of the system which is exposed to the effects of a decision that has been taken into account. Developing an internal control system is perceived as a process that involves improving performance and governance, rather than introducing a new, additional system. The paper is presenting some considerations regarding the effectiveness of risk management approach used in Romanian public entities, based on the latest reports published. There are also pointed out some principal causes for this implementation level of Risk management Standard, along with some selective proposals for improving the results of this risk based approach

Considerations regarding the effectiveness of Risk Management for Internal Managerial Control System

Proceedings of the International Conference on Business Excellence

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The paper presents a systemic analysis of the key factors of risk management for the internal managerial control (IMC) system for public entities in Romania....

Considerations regarding the effectiveness of Risk Management for Internal Managerial Control System

Publié en ligne: 27 juil. 2020

Pages: 664 - 672

DOI: https://doi.org/10.2478/picbe-2020-0063

Mots clés
internal managerial control system, public entities, risk management, managerial decision, system vulnerability

© 2020 Cosmin Filip, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Considerations regarding the effectiveness of Risk Management for Internal Managerial Control System

Publié en ligne: 27 juil. 2020

Pages: 664 - 672

DOI: https://doi.org/10.2478/picbe-2020-0063

Mots clésinternal managerial control system, public entities, risk management, managerial decision, system vulnerability

© 2020 Cosmin Filip, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Mots clés
internal managerial control system, public entities, risk management, managerial decision, system vulnerability