RISK MANAGEMENT
RISK MANAGEMENT

Summary/Abstract: One of the most important internal control standards that make up the code on Internal Control, approved by Ministry of Public Finance Order no. 946/2005, is the standard on risk management.According to the above mentioned standard, each public entity is required to systematically analyze at least once a year, the risks related to its activities, to develop appropriate plans in order to limit the possible consequences of these risks and to name those responsible for implementing plans. This practice has migrated from the private sector the public sector, so that more and more European Union countries governments have integrated risk management in the public management reforms undertaken in recent years.

• Details
• Contents