Information support of economic security risk management of an enterprise

About the authors:

Azarskaya Maya A., Dr. Sci. (Econ.), Professor, Department of Accounting, Taxes and Economic Security, Volga Region State University of Technology (Yoshkar-Ola)
kbua@inbox.ru

Pozdeev Valery L., Dr. Sci. (Econ.), Professor, Department of Accounting, Taxes and Economic Security, Volga Region State University of Technology (Yoshkar-Ola)
kbua@inbox.ru

Abstract:

Enterprises are an important component of the economic development of the state as they provide not only employment, but also the GDP of the country. In the recent years, the economic situation has become more complicated, which determines the negative social and economic results of the development of enterprises in the real sector of the economy. This has caused numerous studies in the field of economic security of enterprises. However, most of the researchers have not yet come to a unanimous agreement on these issues, including the conceptual apparatus and the content of the economic security of the enterprise. The issues related to threats to economic security receive more attention, unlike risk management. <br>
The authors emphasize that the risks of economic processes should become a prerequisite for economic security. Identification of risks and their further neutralization can lead enterprises on the way of safe development. Yet proper risk management requires appropriate information support. The authors have allocated four key components of information support for an enterprise: accountancy, analysis, control, and audit. Each of them is described providing the input, intermediate, and output information that corresponds to the system approach of researching the economic phenomena. It has allowed characterizing risks of economic safety of an enterprise in the context of components for information support. The results show the relationship between the risks of economic security and threats to an enterprise. The authors specify directions of the further researches within the limits of considered questions.

References:

1. Azarskaya M. A., Pozdeev V. L. 2017. “Accounting and analytical support of the audit of economic security of the enterprise”. Auditorskie vedomosti, no 1-2, pp. 24-38. [In Russian]

2. Glustenkov I. V. 2015. “Economic security of the organization”. Bulletin of the International Institute of Economics and Law, no 2 (19), pp. 77-81. [In Russian]

3. Granaturov V. M. 1999. Economic Risk: Essence, Measurement Methods, and Reduction Ways. Moscow: Delo i servis. [In Russian]

4. Grunin O. A., Grunin S. O. 2002. Economic Security of the Organization. Saint Petersburg: Piter. [In Russian]

5. Zabrodsky V., Kapustin N. 1999. “Theoretical bases of estimation of economic security of the branch and firm”. Business Inform, no 15-16, pp. 35-37. [In Russian]

6. Nedosekin A. О., Abdulayeva Z. I.2010. Corporate Risk and Opportunity Management: Training Course. Saint Petersburg. [In Russian]

7. RF Federal Law of 6 December 2001 No 402-FZ (as of 23 May 2016) “On accounting”. Consultant Plus. [In Russian]

8. RF Ministry of Finance Information No PZ-9/2012 “On the disclosure of information on the risks of economic activity of the organization in the annual financial statements”. Consultant Plus. [In Russian]

9. RF Ministry of Finance Information No PZ-11/2013 “Organization and implementation by an economic entity of internal control over the facts of economic life, accounting and financial statements”. Consultant Plus. [In Russian]

10. Pozdeev V. L. 2014. “Analysis in the system of economic security of the enterprise”. Innovative Development of Economy, no 2 (19), pp. 38-47. [In Russian]

11. Oleynikov E. A. (ed.). 1997. Foundations of Economic Security (State, Region, Enterprise, Individual). Moscow: Intel-Sintez.

12. Pozdeev V. L. 2015. “On the concept of ‘economic security of the enterprise’: analytical aspect”. Vestnik SamGUPS, no 2-2 (28), pp. 113-116. [In Russian]

13. Shapkin A. S. 2003. Economic and Financial Risks. Evaluation, Management, Investment Portfolio. Moscow: Dashkov i K. [In Russian]

14. North Carolina State University. “Top Risks Report: Executive Perspectives on Top Risks for 2017”. https://erm.ncsu.edu/library/article/2017-top-risks-report-executive-perspectives-on-top-risks-for-2...