Disclosure of risk is the provision of information about the risks encountered by the firm and how risk management is conducted. Disclosure of risks is essential for assisting stakeholders in obtaining risk profile information and management. This study aims to evaluate and assess the impact of firm factors (size, liquidity, profitability, leverage) and effective corporate governance (size of the board of directors and ownership structure) on risk management disclosures. For 2020-2021, the IDX has a quarterly listing of the research population for textile and apparel subsector manufacturers (quarterly). With a total of 64 observations, the sampling method is nonprobability with purposive sampling. Quantitative research and secondary data sources are categorized—as descriptive statistical data analysis methodologies. Before multiple regression analysis, all data were subjected to classical assumption tests (normality test, multicollinearity test, and heteroscedasticity test). According to the determination coefficient test results, all independent factors had an influence of 64.3% on risk management disclosure. The effects of research on business size, profitability, leverage, and ownership structure on risk management disclosure are beneficial. On risk management disclosure, liquidity has a negative influence, whereas the size of the board of commissioners has no effect. Future researchers are anticipated to expand their efforts so that test findings are more precise and reliable and to measure the ownership structure of various components.