As part of the lecture "Corporate Governance and Auditing", the chair was pleased to welcome the auditor Mr. Schwarzhuber for a guest lecture on 12/12/2023. 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 presentation. Depending on the business model, companies are confronted with various risks that threaten their existence. The top risks include cyber-attacks and data breaches in particular. These risks must be identified at an early stage to ensure the continued existence of the companies with suitable measures. 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.