Uralvagonzavod Corporation introduces risk management and internal control systems
14 July 2015 (15:52)
UrBC, Yekaterinburg, July 14, 2015. Uralvagonzavod Corporation is introducing risk management and internal control options at the plant, the company press service reports.
The goal is to create and launch the best corporate governance practices throughout the company – and to respond efficiently to the Russian President’s commission.
‘The task is being fulfilled by one of Moscow-based companies whose experts contributed to the drafting of methodological guidelines for risk management at state-run corporations. These experts are among those who developed a professional risk management standard and authors of governmental regulations on risk management standardization; they have worked with a number of major Russian enterprises before,’ the press service says.
The corporation is introducing the new practices on two levels: that of strategic planning and that of managing risks immediately at the company’s head plant in Nizhniy Tagil. In the future, the principles will be applied to other member enterprises, design offices, and research institutes.
The launch of a risk management system is actually the second stage in the project. First, the corporation coordinated a series of risk management and internal control workshops for the top management of Corporate Governance Center and of the head plant. The workshops were targeted at getting the Nizhniy Tagil managers ready for working within the risk management system.
The goal is to create and launch the best corporate governance practices throughout the company – and to respond efficiently to the Russian President’s commission.
‘The task is being fulfilled by one of Moscow-based companies whose experts contributed to the drafting of methodological guidelines for risk management at state-run corporations. These experts are among those who developed a professional risk management standard and authors of governmental regulations on risk management standardization; they have worked with a number of major Russian enterprises before,’ the press service says.
The corporation is introducing the new practices on two levels: that of strategic planning and that of managing risks immediately at the company’s head plant in Nizhniy Tagil. In the future, the principles will be applied to other member enterprises, design offices, and research institutes.
The launch of a risk management system is actually the second stage in the project. First, the corporation coordinated a series of risk management and internal control workshops for the top management of Corporate Governance Center and of the head plant. The workshops were targeted at getting the Nizhniy Tagil managers ready for working within the risk management system.
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