Company controls and risk management

The aim of this work is to identify potential risks that threaten the analyzed company, evaluate their potential impact and propose a way of managing them and a regular evaluation system. To achieve this goal, I set several sub-goals. The first sub-goal was to analyze the internal audit process and define the risk assessment process. As another sub-goal, I set out to understand the essence of risks and to find a suitable tool for their identification, evaluation and management. From the available methodologies, I chose two conceptual frameworks that work with an integrated risk management system - COSO Enterprise Risk Management and ERM. Another sub-goal was, based on the knowledge gained, to implement the conceptual framework of risk assessment in a specific company, perform a risk assessment and propose a variant solution for the implementation of risk assessment.