Summary

In this section, we learned about the critical role of risk management and internal controls in ensuring organizational sustainability and success. Effective risk management involves identifying and mitigating risks to protect assets, ensure business continuity, and build stakeholder confidence. It categorizes risks into financial, operational, and strategic types, each requiring tailored management strategies. Internal control systems promote accountability and fraud prevention, while internal audits assess and enhance risk management processes. Additionally, effective crisis management and corporate resilience strategies are vital for preparing for, responding to, and recovering from unexpected events, ensuring long-term stability and operational integrity.

Last modified: Friday, 18 October 2024, 12:30 PM