Methodological aspects for management of compliance risks of companies
Abstract
The article points out that the dynamic changes of the modern business environment and the functioning of companies under uncertainty create such a complex phenomenon as risks. It is noted that many Ukrainian companies currently use only a fragmented risk management system, which does not allow them to be promptly monitored and to take measures to prevent or minimize them in a timely manner. It is emphasized that foreign companies are successfully applying a new model of risk management – a system of compliance control, the peculiarity of which is that risk management is comprehensive and coordinated throughout the company. The need for companies to create a system of compliance control aimed at bias and / or minimization compliance risks is emphasized. The absence of common approaches to the interpretation of the concept of “compliance risk” is emphasized. The diversity of interpretation of the concept of “compliance risk” is unified and scientific thesaurus is supplemented by the author's definition of a functional approach, by which a compliance category should be understood as an economic category, which, in the context of uncertainty and conflict, reflects the peculiarities of perceptions of stakeholders of economic relations, burdened with possible threats and unused opportunities. The types of companies' compliance risks are considered and their impact on the performance of the companies is briefly described. The feasibility of introducing a system of compliance control is substantiated and proposed for decision making on its formation and implementation of Roadmap of a compliance control system. Each of the stages of formation and implementation by the companies of the compliance control system is described. The model of the system of compliance control of the company is recommended. It is proved that the implementation of the submitted proposals and recommendations will ensure the effective management of the company's compliance risks, promote their bias and optimization.
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