Risk Management during Crisis. Implications for Corporate Governance, Management and Financial Auditing

Author:Prof. Sorin DIMITRIU, Ph.D.

JEL:

DOI:

Keywords:risk management, recovery, corporate governance, chamber system, financial auditing mission

Abstract:
As economy is under way of recovery, this article approaches several government and parliamentary decisions that, on the backdrop of already existing macroeconomic imbalances, may delay the upturn of the Romanian economy. Thus, the steps made and actions taken by the chamber system are presented and illustrated, with reference to the problems confronting the business community and the risks that the management of economic facilities must consider.\r\nThe second part of the article highlights business people’s expectations from financial auditors, stressing that an accurate audit report, made according to international standards in the field, can be essential in the decision-making process for both business management, and other users of accounting information, such as banks, insurers, clients.\r\nThe author states that audit services represent an investment in business health, and the proper communication between auditors on the one hand, and business management and the other users of the information in the audit reports on the other hand is likely to brace the efforts made to overcome the current economic situation.\r\n\r\n

---