DEFINITION AND MEASUREMENT OF RISK IN COMPLIANCE MANAGEMENT

The article is devoted to the problem of defining and measuring risk in compliance management - an important management function of a company aimed at complying with laws and ethical norms. A general definition of risk from the theory of probability and various approaches to understanding risk in th...

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Autores principales:	A. M. Krepysheva, A. A. Sergievskaya, M. A. Storchevoy
Formato:	article
Lenguaje:	RU
Publicado:	Real Economics Publishing House 2020
Materias:	compliance ethics compliance risk compliance management quantitative risk measurement risk appetite Risk in industry. Risk management HD61
Acceso en línea:	https://doaj.org/article/ae7a62db38134ed8ab45081405f5879c
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spelling	oai:doaj.org-article:ae7a62db38134ed8ab45081405f5879c2021-11-19T10:42:01ZDEFINITION AND MEASUREMENT OF RISK IN COMPLIANCE MANAGEMENT2618-947X2618-998410.17747/2618-947X-2020-2-150-159https://doaj.org/article/ae7a62db38134ed8ab45081405f5879c2020-09-01T00:00:00Zhttps://www.jsdrm.ru/jour/article/view/892https://doaj.org/toc/2618-947Xhttps://doaj.org/toc/2618-9984The article is devoted to the problem of defining and measuring risk in compliance management - an important management function of a company aimed at complying with laws and ethical norms. A general definition of risk from the theory of probability and various approaches to understanding risk in the literature on risk management are considered, then the definition of compliance risk and ways to managing this risk in compliance management are explored. The problem of quantitative measurement of compliance risks and some methods of its solution are described. The authors analyze the approaches of several international companies (in the mining industry, oil and gas industry, mobile communications, FMCG) to measuring or assessing compliance risks, as well as organizing compliance risk management in practice (organizational structures, processes, etc.). The work also discussed the concept of risk appetite, that characterizes the willingness of an organization to take on a certain positive level of risk, while logically it is poorly compatible with the concept of compliance risk as a risk of violation of the legislation.A. M. KrepyshevaA. A. SergievskayaM. A. StorchevoyReal Economics Publishing House articlecomplianceethicscompliance riskcompliance managementquantitative risk measurementrisk appetiteRisk in industry. Risk managementHD61RU Strategičeskie Rešeniâ i Risk-Menedžment, Vol 11, Iss 2, Pp 150-159 (2020)
institution	DOAJ
collection	DOAJ
language	RU
topic	compliance ethics compliance risk compliance management quantitative risk measurement risk appetite Risk in industry. Risk management HD61
spellingShingle	compliance ethics compliance risk compliance management quantitative risk measurement risk appetite Risk in industry. Risk management HD61 A. M. Krepysheva A. A. Sergievskaya M. A. Storchevoy DEFINITION AND MEASUREMENT OF RISK IN COMPLIANCE MANAGEMENT
description	The article is devoted to the problem of defining and measuring risk in compliance management - an important management function of a company aimed at complying with laws and ethical norms. A general definition of risk from the theory of probability and various approaches to understanding risk in the literature on risk management are considered, then the definition of compliance risk and ways to managing this risk in compliance management are explored. The problem of quantitative measurement of compliance risks and some methods of its solution are described. The authors analyze the approaches of several international companies (in the mining industry, oil and gas industry, mobile communications, FMCG) to measuring or assessing compliance risks, as well as organizing compliance risk management in practice (organizational structures, processes, etc.). The work also discussed the concept of risk appetite, that characterizes the willingness of an organization to take on a certain positive level of risk, while logically it is poorly compatible with the concept of compliance risk as a risk of violation of the legislation.
format	article
author	A. M. Krepysheva A. A. Sergievskaya M. A. Storchevoy
author_facet	A. M. Krepysheva A. A. Sergievskaya M. A. Storchevoy
author_sort	A. M. Krepysheva
title	DEFINITION AND MEASUREMENT OF RISK IN COMPLIANCE MANAGEMENT
title_short	DEFINITION AND MEASUREMENT OF RISK IN COMPLIANCE MANAGEMENT
title_full	DEFINITION AND MEASUREMENT OF RISK IN COMPLIANCE MANAGEMENT
title_fullStr	DEFINITION AND MEASUREMENT OF RISK IN COMPLIANCE MANAGEMENT
title_full_unstemmed	DEFINITION AND MEASUREMENT OF RISK IN COMPLIANCE MANAGEMENT
title_sort	definition and measurement of risk in compliance management
publisher	Real Economics Publishing House
publishDate	2020
url	https://doaj.org/article/ae7a62db38134ed8ab45081405f5879c
work_keys_str_mv	AT amkrepysheva definitionandmeasurementofriskincompliancemanagement AT aasergievskaya definitionandmeasurementofriskincompliancemanagement AT mastorchevoy definitionandmeasurementofriskincompliancemanagement
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DEFINITION AND MEASUREMENT OF RISK IN COMPLIANCE MANAGEMENT

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