Management risk controlling
The Management Risk Controlling (short MRC ) is a central business issue, referring in particular to support organizational security measures, improve the internal audit as well as the documentation and compliance with directives applies. The MRC is thus seen as an essential part of the internal control system (ICS) in the company in order to meet legal requirements. It is therefore a core component of the company's compliance structure.
Goals of the MRC
The objectives of the MRC are:
- Improvement of the productivity of employees in dealing with company-relevant documents (e.g. from contracts, participations, etc.) and their evaluation.
- The same level of information and topicality for everyone.
- Control, reduce financial risks.
- No loss of important information and documents.
- Compliance with legal regulations (such as KonTraG , SOX , Basel II etc.).
Areas of the MRC
The organizational units directly affected by the MRC can be listed as follows:
- Contract management
- Investment management
- Decision making
- Organization management
- Compliance
- Legal system
- Internal revision
Summary
Through the establishment of the MRC - as part of the internal control system - it can be said in summary that companies, from the archiving of unstructured documents to the structured preparation of company-critical information (e.g. from contracts, participations, resolutions, etc.) and the targeted risk analysis for the Quarterly and financial reports, get all the necessary information problem-oriented.
MRC systems used in practice offer in this context a structured preparation of the necessary information, integrated business and process logic, workflow and decision-supporting analysis tools both to supplement and to directly optimize the internal control system in the company. In addition, their complementary application options, e.g. for ERP systems, can cover a wide range of management tasks in the company (operational, strategic, legal and corporate law tasks).