A Case of Risk Management Control and Its Study in Non-Financial Risks

Lucy Brandan Betancur; Rafael Paredes Carrasco; David Henriquez Ramos; Jessica Ramirez Ramirez

doi:doi:10.11648/j.ijafrm.20230802.11

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A Case of Risk Management Control and Its Study in Non-Financial Risks

Lucy Brandan Betancur, Rafael Paredes Carrasco, David Henriquez Ramos, Jessica Ramirez Ramirez

Published in International Journal of Accounting, Finance and Risk Management (Volume 8, Issue 2)

Received: 2 February 2023 Accepted: 7 March 2023 Published: 17 May 2023

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Abstract

The objective of the research work was to establish the context of non-financial risks in the company Brad of Wales, and it is recommended that they be managed as soon as possible, considering the low level of maturity of this international company. The applied paradigm was qualitative, the research method was descriptive, and the research tools were case studies. It was able to be carried out due to the adversities suffered in the company studied due to the pandemic and that generated risks that must be managed, adding to this new risks such as climate change, sustainability and social responsibility of the entity. Among the most important findings of this work, it was detected through an internal control survey with a focus on risks; a low level of maturity, explained by low risk assessment. In addition, the compliance risk showed a high level of criticality because basic risk management standards for any organization are not being considered by the regional corporate governance. And, therefore, a great opportunity was evidenced, not only at the local level, but also at the corporate level, for the application of the best practices around corporate risk management.

Published in	International Journal of Accounting, Finance and Risk Management (Volume 8, Issue 2)
DOI	10.11648/j.ijafrm.20230802.11
Page(s)	31-42
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2023. Published by Science Publishing Group

Keywords

Risk Control, Risk Management, Corporate Governance, Non-Financial Risks, Environmental Risk

References

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[11]	Rosso, JW (2018). Corporate governance: theory and empirical evidence. Editorial UPTC. https://elibro-net.ezproxy.usach.cl/es/ereader/usac h/131478?page=1
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[13]	Valenzuela Nieto, I. (2018). Corporate Governments as a pillar of Sustainability: A Pending Challenge in Latin America. Applied Law Magazine.
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APA Style

Lucy Brandan Betancur, Rafael Paredes Carrasco, David Henriquez Ramos, Jessica Ramirez Ramirez. (2023). A Case of Risk Management Control and Its Study in Non-Financial Risks. International Journal of Accounting, Finance and Risk Management, 8(2), 31-42. https://doi.org/10.11648/j.ijafrm.20230802.11

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ACS Style

Lucy Brandan Betancur; Rafael Paredes Carrasco; David Henriquez Ramos; Jessica Ramirez Ramirez. A Case of Risk Management Control and Its Study in Non-Financial Risks. Int. J. Account. Finance Risk Manag. 2023, 8(2), 31-42. doi: 10.11648/j.ijafrm.20230802.11

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AMA Style

Lucy Brandan Betancur, Rafael Paredes Carrasco, David Henriquez Ramos, Jessica Ramirez Ramirez. A Case of Risk Management Control and Its Study in Non-Financial Risks. Int J Account Finance Risk Manag. 2023;8(2):31-42. doi: 10.11648/j.ijafrm.20230802.11

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@article{10.11648/j.ijafrm.20230802.11,
  author = {Lucy Brandan Betancur and Rafael Paredes Carrasco and David Henriquez Ramos and Jessica Ramirez Ramirez},
  title = {A Case of Risk Management Control and Its Study in Non-Financial Risks},
  journal = {International Journal of Accounting, Finance and Risk Management},
  volume = {8},
  number = {2},
  pages = {31-42},
  doi = {10.11648/j.ijafrm.20230802.11},
  url = {https://doi.org/10.11648/j.ijafrm.20230802.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijafrm.20230802.11},
  abstract = {The objective of the research work was to establish the context of non-financial risks in the company Brad of Wales, and it is recommended that they be managed as soon as possible, considering the low level of maturity of this international company. The applied paradigm was qualitative, the research method was descriptive, and the research tools were case studies. It was able to be carried out due to the adversities suffered in the company studied due to the pandemic and that generated risks that must be managed, adding to this new risks such as climate change, sustainability and social responsibility of the entity. Among the most important findings of this work, it was detected through an internal control survey with a focus on risks; a low level of maturity, explained by low risk assessment. In addition, the compliance risk showed a high level of criticality because basic risk management standards for any organization are not being considered by the regional corporate governance. And, therefore, a great opportunity was evidenced, not only at the local level, but also at the corporate level, for the application of the best practices around corporate risk management.},
 year = {2023}
}

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TY  - JOUR
T1  - A Case of Risk Management Control and Its Study in Non-Financial Risks
AU  - Lucy Brandan Betancur
AU  - Rafael Paredes Carrasco
AU  - David Henriquez Ramos
AU  - Jessica Ramirez Ramirez
Y1  - 2023/05/17
PY  - 2023
N1  - https://doi.org/10.11648/j.ijafrm.20230802.11
DO  - 10.11648/j.ijafrm.20230802.11
T2  - International Journal of Accounting, Finance and Risk Management
JF  - International Journal of Accounting, Finance and Risk Management
JO  - International Journal of Accounting, Finance and Risk Management
SP  - 31
EP  - 42
PB  - Science Publishing Group
SN  - 2578-9376
UR  - https://doi.org/10.11648/j.ijafrm.20230802.11
AB  - The objective of the research work was to establish the context of non-financial risks in the company Brad of Wales, and it is recommended that they be managed as soon as possible, considering the low level of maturity of this international company. The applied paradigm was qualitative, the research method was descriptive, and the research tools were case studies. It was able to be carried out due to the adversities suffered in the company studied due to the pandemic and that generated risks that must be managed, adding to this new risks such as climate change, sustainability and social responsibility of the entity. Among the most important findings of this work, it was detected through an internal control survey with a focus on risks; a low level of maturity, explained by low risk assessment. In addition, the compliance risk showed a high level of criticality because basic risk management standards for any organization are not being considered by the regional corporate governance. And, therefore, a great opportunity was evidenced, not only at the local level, but also at the corporate level, for the application of the best practices around corporate risk management.
VL  - 8
IS  - 2
ER  -

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Author Information

Lucy Brandan Betancur

Department of Accounting and Auditing, Faculty of Administration and Economics, University of Santiago, Santiago, Chile
Rafael Paredes Carrasco

Department of Accounting and Auditing, Faculty of Administration and Economics, University of Santiago, Santiago, Chile
David Henriquez Ramos

Department of Accounting and Auditing, Faculty of Administration and Economics, University of Santiago, Santiago, Chile
Jessica Ramirez Ramirez

Department of Accounting and Auditing, Faculty of Administration and Economics, University of Santiago, Santiago, Chile

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Plain Text BibTeX RIS

APA Style

Lucy Brandan Betancur, Rafael Paredes Carrasco, David Henriquez Ramos, Jessica Ramirez Ramirez. (2023). A Case of Risk Management Control and Its Study in Non-Financial Risks. International Journal of Accounting, Finance and Risk Management, 8(2), 31-42. https://doi.org/10.11648/j.ijafrm.20230802.11

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ACS Style

Lucy Brandan Betancur; Rafael Paredes Carrasco; David Henriquez Ramos; Jessica Ramirez Ramirez. A Case of Risk Management Control and Its Study in Non-Financial Risks. Int. J. Account. Finance Risk Manag. 2023, 8(2), 31-42. doi: 10.11648/j.ijafrm.20230802.11

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AMA Style

Lucy Brandan Betancur, Rafael Paredes Carrasco, David Henriquez Ramos, Jessica Ramirez Ramirez. A Case of Risk Management Control and Its Study in Non-Financial Risks. Int J Account Finance Risk Manag. 2023;8(2):31-42. doi: 10.11648/j.ijafrm.20230802.11

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@article{10.11648/j.ijafrm.20230802.11,
  author = {Lucy Brandan Betancur and Rafael Paredes Carrasco and David Henriquez Ramos and Jessica Ramirez Ramirez},
  title = {A Case of Risk Management Control and Its Study in Non-Financial Risks},
  journal = {International Journal of Accounting, Finance and Risk Management},
  volume = {8},
  number = {2},
  pages = {31-42},
  doi = {10.11648/j.ijafrm.20230802.11},
  url = {https://doi.org/10.11648/j.ijafrm.20230802.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijafrm.20230802.11},
  abstract = {The objective of the research work was to establish the context of non-financial risks in the company Brad of Wales, and it is recommended that they be managed as soon as possible, considering the low level of maturity of this international company. The applied paradigm was qualitative, the research method was descriptive, and the research tools were case studies. It was able to be carried out due to the adversities suffered in the company studied due to the pandemic and that generated risks that must be managed, adding to this new risks such as climate change, sustainability and social responsibility of the entity. Among the most important findings of this work, it was detected through an internal control survey with a focus on risks; a low level of maturity, explained by low risk assessment. In addition, the compliance risk showed a high level of criticality because basic risk management standards for any organization are not being considered by the regional corporate governance. And, therefore, a great opportunity was evidenced, not only at the local level, but also at the corporate level, for the application of the best practices around corporate risk management.},
 year = {2023}
}

Copy | Download

TY  - JOUR
T1  - A Case of Risk Management Control and Its Study in Non-Financial Risks
AU  - Lucy Brandan Betancur
AU  - Rafael Paredes Carrasco
AU  - David Henriquez Ramos
AU  - Jessica Ramirez Ramirez
Y1  - 2023/05/17
PY  - 2023
N1  - https://doi.org/10.11648/j.ijafrm.20230802.11
DO  - 10.11648/j.ijafrm.20230802.11
T2  - International Journal of Accounting, Finance and Risk Management
JF  - International Journal of Accounting, Finance and Risk Management
JO  - International Journal of Accounting, Finance and Risk Management
SP  - 31
EP  - 42
PB  - Science Publishing Group
SN  - 2578-9376
UR  - https://doi.org/10.11648/j.ijafrm.20230802.11
AB  - The objective of the research work was to establish the context of non-financial risks in the company Brad of Wales, and it is recommended that they be managed as soon as possible, considering the low level of maturity of this international company. The applied paradigm was qualitative, the research method was descriptive, and the research tools were case studies. It was able to be carried out due to the adversities suffered in the company studied due to the pandemic and that generated risks that must be managed, adding to this new risks such as climate change, sustainability and social responsibility of the entity. Among the most important findings of this work, it was detected through an internal control survey with a focus on risks; a low level of maturity, explained by low risk assessment. In addition, the compliance risk showed a high level of criticality because basic risk management standards for any organization are not being considered by the regional corporate governance. And, therefore, a great opportunity was evidenced, not only at the local level, but also at the corporate level, for the application of the best practices around corporate risk management.
VL  - 8
IS  - 2
ER  -

Copy | Download