Guest Lecture on the Lecture "Corporate Governance and Auditing

As part of the lecture "Corporate Governance and Auditing", the chair was pleased to welcome the auditor Mr. Schwarzhuber for a guest lecture on 22.11.2022. As a partner of the Passau-based auditing firm Dr. Kittl & Partner, Mr. Schwarzhuber provided practical insights into the topic of "Internal Control System and Risk Management System".
The importance of these two systems within corporate governance became clear during the lecture. Depending on the business model, companies are confronted with approximately 50-200 risks that threaten their existence, in recent years also with newly emerging risks such as the Corona pandemic. The risks must be identified at an early stage so that appropriate measures can be taken in good time to ensure the continued existence of the companies. In addition to the risk management system, the internal control system focuses on control processes for internal procedures that are managed by the company itself. Interlocking of the two systems, which should be continuously improved, is essential for good corporate governance.