Systematization Of Risks Research Articles

Method of auditing in conditions of martial law

In the article there are considered methodical recommendations on the actions of auditors during martial law. They relate to such stages of the audit as the preparatory phase, the planning phase, the task implementation and the final phase. The preparatory stage requires the identification of the client and the conclusion of an audit agreement. Under martial law, new risks are emerging, systematized by the authors and related to the identification of persons involved in terrorist activities and the proliferation of weapons of mass destruction. The systematization of risks and the use of IT technologies to identify and verify the client allows auditors, as specially designated entities of primary financial monitoring, to identify and freeze the assets of such persons in a timely manner and stop providing any services. At the client acceptance and assignment stage, auditors assess ethical threats. As a result, a working paper has been developed to assess ethical threats in the light of martial law. At the planning stage, special attention should be paid to reviewing risks, namely how military aggression affects the continuity of any business. Clarification of risk factors for termination allows you to plan audit procedures to gather audit evidence and further determine the auditor's opinion on continuity (opinion with an explanatory paragraph, opinion with a reservation, negative opinion, disclaimer of opinion). One of the effective procedures for collecting audit evidence at the stage of the task is inventory.

Систематизация рисков в проектах строительства транспортных пассажирских хабов

Objective: To characterize the evolution in functions of passenger transport hubs and to identify their types. To determine the specificities of investment projects for passenger transport hub development. To clarify and classify risks appeared in the projects of passenger transport hub development and to propose mechanism of their distribution amongst projects' participants. Methods: Review and analysis of scientific literature on the development of passenger transport hubs. Comparative analysis of the functionality and features of transport hubs in different countries and cities, systematization of their types. Systematization of risks in passenger transport hub development projects and their classification. Results: It is proved that the development of passenger transport hubs is a necessary condition for urban transport systems effective functioning. The types of passenger transport hubs, operating in large cities, are systemized. The identification of risks arising in the projects of passenger transport hubs development has been carried out, and the features of such projects have been outlined. The mechanism of risk distribution amongst the participants of investment projects for transport passenger hub development is proposed. Practical importance: The necessity of identification and assessment of risks in investment projects of passenger hub development is shown. It’s justified holding measures in the field of risks prevention and assessment. The results obtained may be of interest for governmental agencies as well as private partners financing projects on passenger transport hub development.

Освоение угольных месторождений в Республике Тыва: вызовы и риски

Description of the main theme. Before the Republic of Tyva, the modern conditions of development have put forward the challenges of intensifying the development of natural resources to improve living standards and reduce unemployment. Since coal is the main wealth of the interior of Tyva, it is necessary to find ways to involve this resource in economic circulation. Object problems. At present, a coal-mining territory is being formed in Tyva and the volume of coal production is growing dynamically. There are high risks. Purpose of the study. Analysis and systematization of the challenges and risks of a large-scale increase in coal production in Tyva. Basic methods of analysis. Methods of systemic, economic and statistical analysis, classification were used. The research was based on statistical and analytical data for Russia and the Republic of Tuva and internet resources. Research results. The scientific novelty of the study consists of the analysis of the development of coal mining in the regions of the Russian Federation, systematization of risks arising in the formation of coal-industrial territory in Tyva. Natural, anthropogenic, technogenic and socio-economic risks are identified, differing in the source of their occurrence. Ecological risks from anthropogenic and technogenic risks are highlighted. The ways of reducing the possible environmental load are substantiated. Conclusions. Based on the results of the study, it was concluded that in order to reduce the lag in the parameters of socio-economic processes in Tyva, one of the effective ways is the formation of a coal mining area. This implies the creation of an energy-chemical complex for coal processing and the production of a wide range of coal chemistry products, an increase in coal export volumes after the construction of the railway. To eliminate the high risks of this strategic direction of regional development, it is proposed to implement a number of innovative sustainable technology, systematic monitoring of the state of coal mining territories.

RISK MANAGEMENT IN PROJECTS OF RESTORATION THE REGIONAL TRANSPORT STRUCTURE ON THE BASIS OF PARTICIPANTS' COMMUNICATION

The subject of the article is the processes of risk management and project communications. The components of the content of transport infrastructure rehabilitation projects, including communications between stakeholders, are considered. The aim of the work is to develop a method for assessing and managing the risks in transport infrastructure rehabilitation projects, taking into account the communication processes of the participants. The following tasks are solved in the article: systematization of risks in transport infrastructure rehabilitation projects in the form of relations between the project participants, creation of a graphic scheme of stakeholder communications, formalization of stakeholder communications with regard to the causes and possible parry of risks, development of a quantitative assessment model of the project risks with regard to stakeholder interests. Methods used: project management methodology, stakeholder theory, value theory, systems approach, matrix models. The following results were obtained: Opportunities, impact and risk status in relation to stakeholders of the transport infrastructure rehabilitation project were analyzed. The possibility of grouping risks in relation to the stakeholders of the project and the possibility of influence of stakeholder interaction on the available risk groups were considered. The risks that can directly affect the project or be affected by the interaction between the project stakeholders were identified. The formalized representation of risks and communications of project participants is presented. Opportunities to optimize the process of project risk management through the management of stakeholders and project communications have been identified. Quantitative project risk value model was developed to assess the effectiveness of actions to parry risks from stakeholders. Conclusions: project risk management can be more effective if tools and methods specific to stakeholder management and project communications are applied. The proposed formalization establishes a clear model of stakeholder interaction to parry risks. The model of quantitative assessment of the effectiveness of actions to parry risks will allow to evaluate the effectiveness of the management strategy and to make adjustments in time. In the future, this work will continue scientific research in the direction of developing models and methods of research of communications and risks of the project

The evolution of Eurasian relations in the spirit of Great Silk Road: Review of the scientific materials

In the review article, based on the methods of evolutionary and institutional theory, system paradigm, analytical assessment and historical approach, a comprehensive review of scientific materials concerning the evolution of trade, economic and military-political Euro-Asian relations and organizational and institutional directions of the revival of the spirit of the Great Silk Road (GSR) as an instrument of innovation and integration interaction in the space of global Eurasia, including without the participation of China, is given. The study is a continuation of the authors' work on the analysis of the consequences of the PRC's Belt and Road Initiative as a "soft power" for the spread of Chinese global influence. The review, classification and analysis of scientific materials concerning various forms of geopolitical confrontation between states and regions for control over trade routes, which can be carried out both through the formation of a huge empire and the creation of interstate-corporate partnership in order to ensure the economic security of long-distance trade from the Mediterranean and Northern Europe to East Asia, are presented. It is shown that the establishment of Euro-Asian relations took place in various nodal points and territories of the world economy: Central Asia, the Italian trade republics, the Nordic countries, as well as through the creation of global trade empires and quasi-state corporate structures by European states. The systematization of risks and negative consequences of the functioning of modern trade routes, the revival of the spirit of the GSR on the political and economic situation of Russia is given. Special attention is paid to scientific research, which warns against overly active involvement of the country in world trade. The vectors of Russia's participation as a leader in the innovative and industrial development of trade routes of the XXI century, primarily in the North-South direction, are determined.

Антикризове управління в туризмі

At the present stage of development of society, where everything is fleeting and changeable, the ability to respond flexibly and adapt to change is extremely important for the functioning of all sectors of the economy. The change of technologies, generations, the penetration of the information factor into all spheres of human life, all this form new requirements in the market. The modern tourism market needs innovative, creative, spontaneous, and most importantly – effective solutions that will allow enterprises to function with the minimum losses. The article is concerned with studying the features of the functioning of the tourism market in the face of constantly emerging risks and determining ways to overcome them. The main groups of risks that affect the tourism industry are considered. The dynamics of international tourist arrivals and the influence on it of various factors that led to the reduction of tourist activity in the world are examined. The main reasons for such negative changes, their consequences on the tourism market of individual countries and the world industry as a whole have been identified, the ways to counter them are analyzed. The article stipulates that the activities of the tourism sector largely depend on external factors that are practically beyond control. The greatest losses are caused by epidemics and diseases, among which the COVID-19 pandemic was the largest in terms of consequences, as the lack of response measures caused temporary stagnation in the industry, which required an accelerated search for solutions to problems. In addition, the article highlights the basics of crisis management in tourism and the stages of its implementation. According to the results of the study, the need to introduce risk management in the tourism industry is substantiated. Prospects for further research may be the grouping and systematization of risks, the development of methods to overcome them, as well as strategies for restoring and maintaining the tourism market.

Assessment of the risks of construction of transport infrastructure facilities

The paper is devoted to the analysis and risk assessment of a company engaged in the construction of transport infrastructure facilities. Using the method of expert assessments, the risks that the company may face at the stages of organizational and technological preparation and the construction stage were identified. Each risk was assessed from two perspectives. The first is the determination of the probability of risk occurrence (in percentages and fractions of units). The second is an assessment of the losses that the risk carries if it is realized (in shares of the planned profit). Based on the grouping (identifying four risk groups with different priorities) and calculating the weights of groups and risks, the risks of a construction company were assessed and ranked, and the most significant of them were identified. These are risks associated with shortcomings in design and survey work, reduced funding for construction work, low-skilled workers, as well as the risk of an increase in the cost of materials and structures, the risk of defects and technology violations. For visual demonstration and systematization of risks, the method of risk mapping was used. According to the results of the mapping study, the most dangerous risks are the risks of the “red” zone – these are the risks associated with the shortcomings of design and survey work and the risks of injury. The criterion for their inclusion in the “red zone” is high potential losses. When analyzing and assessing risks, in our opinion, it is necessary to use both of these methods, since based on the method of expert assessments using priority groups, the most significant factors and risks are identified, taking into account two components: the likelihood of their implementation and the magnitude of potential losses. The risk mapping method allows one to rank these risks and identify, on the one hand, risks with the highest probability of realization, on the other hand, risks that carry potentially high losses.

Risk management in construction sphere

In modern terms of housekeeping complicated by coronavirus infection and crisis phenomena in world and Russian economics, there is a high probability of different risks occurrence, connected with activity of modern enterprises in investment and construction sphere. Success, profit and efficiency of enterprise activity in current situation in many ways depends on ability to manage appearing risks to minimize them. It confirms relevance of the research which results are performed in this article. Purpose of the research is to reveal priority directions of management actions aimed to production, financial, logistics, investment and other processes functioning in regional investment and construction sphere, and also to develop mechanism of risk management, which allows to provide reducing of risk appearance probability and minimize their effects. Authors have assessed state Irkutsk region’s investment and construction complex, determined the most likely risks of construction activity. It has been determined the essence of “risk” concept, and systematization of risks in investment and construction processes has been implemented. Mechanism of construction enterprise’s risk management has been developed. The methodological base for research are general scientific methods of understanding the processes of construction products: observation, generalization, comparison, grouping, as well as methods of logical, economical and system analysis.

ІНТЕГРАЛЬНЕ ОЦІНЮВАННЯ РИЗИКІВ УКРАЇНСЬКОГО РИНКУ ІПОТЕЧНОГО КРЕДИТУВАННЯ

Стаття присвячена дослідженню підходів до класифікації ризиків на ринку іпотечного кредитування України. Встановлено наявність взаємодоповнюючих поглядів на систематизацію ризиків, що дозволило запропонувати новий ракурс класифікації – розподіл ризиків іпотечного кредитування на раціональні та ірраціональні. Виокремлено найбільш вагомі ризики українського ринку іпотечного кредитування: кредитний ризик, інвестиційний ризик, інституційний ризик, інфляційний ризик, ризик незавершеного будівництва. Запропоновано авторська методика розрахунку інтегрального показника оцінки ризиків на ринку іпотечних кредитів через множення відносних коефіцієнтів (відношення показників національного ринку до відповідних показників європейського ринку).

Priorities of entrepreneurship development in Ukraine in the conditions of the COVID-19 pandemic and post-quarantine period

The article considers the impact of the COVID-19 coronavirus pandemic, as the most important factor of medium- and long-term changes, on the development of small and medium enterprises in Ukraine. It is clarified that due to the introduction of forced measures to limit certain activities related to quarantine, an entrepreneurship sector suffers the greatest losses, which plays a crucial role in the accumulation of crisis processes in the economy, including the pre-default state of business entities. It is substantiated that the lack of adaptive state support in Ukraine can lead to a reduction of almost a third of gross value added, employment and tax revenues from this segment. Based on the systematization of risks, trends in the global business environment development and other structural changes related to quarantine restrictions, new priorities of business strategies and directions of state support for entrepreneurship sector have been determined. The object of the study is a small and medium business development in the conditions of the COVID-19 pandemic and in the post-quarantine period. The purpose of the study is the priorities of development and support of entrepreneurship determining in Ukraine for recovery accelerating in the context of the coronary crisis. The research methodology involves the use of empirical research methods (observation, comparison and description), theoretical knowledge (formalization) and general research methods (analysis, systematic approach, statistical methods). The practical results of the study include the current priorities for support and development of entrepreneurship identification in the context of the coronary crisis. The article proposes to reduce government interference in the activities of economic entities, to ensure a systematic reduction of corruption behavior in connection with an expansion of state support at the beginning of the crisis, increase the accessibility of SMEs to financing, expand the opportunities for foreign economic activity, and accelerate digital transformations.

The Threats of Ukraine Financial Security: Identification and Systemization

Place of monitoring and control of risks of financial stability of the state in the system of ensuring financial security of the state was substantiated. Methods of identifying threats to Ukraine's financial security through the current and strategic analysis of financial system development indicators were considered. Tendencies of economic development of Ukraine in the context of revealing sources of threats to financial stability of the state were analyzed. Dynamic analysis of the actual values of the financial security indicators of Ukraine as a whole and its separate components had been carried out. Threats to Ukraine's financial security were identified based on comparative and trend analysis. Reasons for the critical state of debt, banking and monetary security in the financial structure and the preconditions for the emergence of systemic threats had been investigated. Systematization of risks and threats to Ukraine's financial security by its components had been carried out. Influence of systemic threats in the financial sphere on the economic security of the state was generalized. International experience of monitoring financial stability of the state was analyzed. Additional risks to the national financial system are associated with the globalization and digitization of the state financial system that are not taken into account by valid methodological recommendations for calculating the level of economic security of Ukraine were highlighted.

THE IDENTIFICATION AND SYSTEMATIZATION OF FINANCIAL ASSETS AND LIABILITIES, EXPOSED TO FINANCIAL RISKS, ON THE EXAMPLE OF THE PHARMACEUTICAL INDUSTRY

The best methods of identification of the financial assets and liabilities with highest risk concentration on the example of pharmaceutical companies have been considered. It is well known, that significant risks are subject to disclosure in financial statements of organization, because they can influence management decisions. It is important for professionals to understand how to correctly identify and assess the risks, influencing the financial statements, as well as to form a list of assets and liabilities, that are more affected by them. The above questions can be answered by the approaches presented in the article to the identification, assessment and systematization of risks, their impact on the financial statements, as well as the conclusions, formulated by the authors as a result of the research.

Risks of dairy farming in Ukraine and ways of their minimization and neutralization

Aim. To identify the main types of risks, remarkable for agricultural dairy production, to evaluate the consequences of their increase and to substantiate a comprehensive system of managing them on the level of enterprise which would promote their minimization and neutralization. Methods. Common methods and techniques were applied in the study: a combination of scientifi c techniques of abstract-logical method of elaborating theoretical provisions, deduction method while isolating specifi c risks in dairy farming from the total amount, empirical methods of investigating the activity of dairy enterprises and computer generated simulation while substantiating practical instruments of risk management in agricultural dairy production. The correlation-regression analysis was used for statistical processing of the data and study results. Results. During the investigation the following kinds of risks in dairy production were isolated: natural, ecological, technological, market-related risks. The natural risk is related to the environmental impact, fi rst and foremost, to the change in temperature regime of the environment of keeping cows, ecological component of manure utilization. The technological risk is characterized by violating the conditions of keeping cows at farms, which is manifested via loss and disposal of cows from the core herd. It has been found that currently the distribution of diseases, i.e. epizootic situation in the country, presents increased risk for farms. One of the ways to neutralize and minimize the manifestation of technological risks is improving biosafety of stock breeding complexes and developing the insurance of livestock. In addition to risks of diseases (infectious, invasion, non-contagious) and other standard risks (fi re, natural disasters, etc.), it is reasonable to insure against the following kinds of risks: interrupted production (caused by death or loss of insured animals), after which current expenses for renewal of production or forfeited profi t would be reimbursed automatically or after submission of confi rmation documents; transportation of animals, including sea, air, and railway travel; expenses to remove the remains of animals after the insured event which caused their death; reimbursing the expenses for elimination of consequences, caused by infectious diseases, which made it impossible to renew the production without prior applica- tion of disinfectants. While evaluating market-related risks, special attention should be given to the relations of producers and processors of milk. Market risks are closely related to technological risks, as milk quality has a decisive impact on the formation of procurement prices. Conclusions. The systematization of risks in dairy farming should be performed in accordance to the total system of their manifestation and to specialized identifi cation which characterizes specifi cities of this sphere. The probability of most risks, occurring in dairy production, is considerably dependent on the effi ciency of managers of agricultural enterprises and partially on legislative and executive branches of power (in the part of legisla- tive provisions). Currently the mitigation of environmental risks is possible only on condition of searching for internal reserves of ensuring the stability of dairy farming, which envisages creating conditions for production of high quality milk, minimization of expenses for its production and sale, compliance with agreements with contractors.

Performance and problems of the housing sphere in Russia

Systematization of risks in the field of housing-and-communal services and recommendations on the neutralization of problem zones were offered. The objective is the diagnostics of the situation in the sphere of housing-and-communal services and the identification of risk zones. The author concludes that the information on risk factors is necessary for the creation of the system of risk prevention, and assumes further development of the measures for the effective management in this sector.