RISK MANAGEMENT OF ACCOUNTING AND REPORTING ORGANIZATION IN COMPANIES

Abstract

The risk management system in organizations directly affects the efficiency of activity management, while the separation of risk management from the accounting and reporting system organized in the company reduces the quality of risk management. The smooth and coordinated operation of these systems increases the efficiency of the risk management process. Analysis and assessment of accounting information allows us to identify risks of different levels of severity and, based on them, develop the most optimal and effective measures and procedures to minimize them. The problem is the lack of conceptual provisions that combine into a single system of methods and procedures of accounting and risk management for the purpose of risk management. Information coming from accounting and reporting data requires the formation of new knowledge about risks and their impact on the organization's performance in order to make important management decisions. The author has set the task of studying the risk management of the organization of accounting and reporting in companies and proposed the most effective methods of solution. The author also notes that the supervisory authority, through the prism of OSBU, prescribed Regulations and Instructions, checks the data of the insurer’s financial statements compiled in accordance with IFRS, which can be regarded as a problem consisting in the absence of both an unambiguous interpretation of the above issues and an organic combination in regulation and control of accounting and reporting of the insurance organization. difficulties in organizing and maintaining accounting and reporting within the framework of the presented problems should also become the work of risk management to improve the receipt, processing of the necessary information on risks and making the right management decisions.