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Jun 2011

Enterprise risk management and budgetary control: a management challenge

Enterprise Risk Management (ERM) is increasingly claimed as a tool for improving the capability of companies in predicting and managing risks, enhancing planning and the achievement of their goals. This research argues that the managerial role of ERM and its link with budgeting is both a strategic and a management challenge for companies.

The specific objectives of the research are:• Analysing how ERM is technically implemented (i.e. measurement systems and types of interaction with managers).• Analysing the heterogeneity of choices in terms of ERM responsibilities.• Highlighting ERM impact on budgetary control.

ERM is intended to be a holistic approach for assessing and evaluating the risks that an organisation faces.

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Enterprise risk management and budgetary control: a management challenge