Finansijsko izveštavanje i upravljanje rizicima u funkciji efikasnog korporativnog upravljanja

Abstract

The economic crisis has promoted the importance of control mechanisms, as a way to reduce the gap between the interests of owners and managers. In this regard, corporate governance appears to be probably the most comprehensive control mechanism used to ensure the effective use of corporate resources. In modern business conditions characterized by globalization, a dynamic environment, numerous corporate and financial scandals, the attention of many companies is concentrated in the field of corporate governance with special emphasis on financial reporting and enterprise risk management. In relation to various corporate governance mechanisms, corporate reporting is one of the most commonly used internal mechanisms. Although this mechanism includes the publication of important and relevant information on the operations of joint-stock companies of various natures, its fundamental part consists of information of a financial nature. Companies that rely on enterprise risk management as an integral function have the opportunity to better understand the degree of risk in various areas of business. Finally, such an approach should provide them with a more objective perspective for investment decisions, and consequently, improve the effectiveness of capital investments. Risk management should not be viewed as one of the techniques of operational management, but as an important component in the management of the company, related to the constant development of management systems, which has significant organizational consequences. Consequently, it follows that enterprise risk management in the company coincides and permeates with corporate governance.