IDENTIFICATION AND SYSTEMATIZATION OF COMPLIANCE RISKS IN THE CONTEXT OF ENSURING THE ECONOMIC SECURITY OF AN ENTERPRISE

Abstract

The paper presents a study of the theoretical and methodological foundations of the issue of compliance risks and their impact on ensuring the economic security of enterprises. In modern business conditions, as a result of the strengthening of external factors of influence and the formation of a list of negative threats, the internal management system of enterprises is significantly transformed, which requires all new approaches to the identification and management of compliance risks. As a result of scientific research, it was established that compliance risks have a cross-functional nature of influence, and the areas of their negative impact can be the financial, informational, and reputational components of the economic security of enterprises. The main sources of possible occurrence of compliance risks and the corresponding structural elements of the enterprise's business processes that are subject to vulnerability to influence are presented. To reliably identify compliance risks, it was proposed to identify them using business process monitoring tools, internal audits, and the use of modern analytical and due diligence methods. The paper presents a division of compliance risks according to a list of features characterized by a systemic approach and presented for the purpose of structuring and further effective management of them. As a result, this helped to form a compliance risk management mechanism, which includes their definition, assessment, streamlining of the audit and a list of measures to reduce the impact on the activities of the enterprise. It has been established that the proposed approach is characterized by a proactive orientation and is aimed at enhancing the financial stability, competitiveness, and legal protection of the enterprise, thereby creating preconditions for strengthening its economic security in the long term. The results obtained may serve as a theoretical and methodological foundation for their further practical implementation and for the development of tools to assess the impact of compliance risks on enterprise performance.