Corporate Risk Management – the key factor for sustainable management

Since today’s conditions on the market have become more challenging and economically difficult and due to an increasing number in business crises, corporate risk management will be inevitable for successful companies in the future. Moreover, numerous national and international laws and regulations [1] as well as norms [2] demand existing and functioning risk management. In practice however, many companies, especially SMBs, have to deal with regulation backlog [3].

Targeted confrontation and professional involvement with business crises is of paramount importance for companies from all sectors and sizes. This is due to the fact that interest in risk-adjusted information in accounting is increasing significantly and demands in risk-oriented management and management accounting is growing. Risk management accounting and reporting, the identification and evaluation of risks as well as efficient and effective risk management controlling are the foci of this core research area. Research in this area addresses SMBs in particular and makes the applicability and/or implementation of research findings accessible to the scientific community through specialist publications and participation in conferences and symposia. With contract projects, knowledge is transferred by implementing the research results together with cooperation partners from the industry.

Overview of the research framework

R&D activities are based on a holistic approach in the area of corporate risk management. In addition, targeted and advanced research is conducted in selected specialist areas.

Tangible research results

Selected results from the research area can be listed and described as follows:

  • Development of a risk management tool for SMBs
  • SMB risk check
  • Procurement and risk management in Austrian middle-sized businesses – status quo, meaning and future developments
  • Potential, meaning and future developments of procurement management – stocktaking for risk management in top 500 Austrian businesses
  • Risk management in Austrian middle-sized businesses – comparison 2012/2014
  • Risk reporting in top companies from DACH (Germany, Austria and Switzerland) countries
  • Management accounting in Austrian SMBs – aspects of Styrian SMB financing practices

Furthermore, a great number of scientific studies were conducted, which can be associated with the primary research activities. Monographies are another result output, which can be associated with the research framework in Fig. 1. The results of R&D activities have been published in numerous national and international specialist articles and book contributions as well as presented in national and international symposia.


[1] UGB, AktG, KonTraG, IFRS, Corporate Governance Kodex; SOX, SEC-Bestimmungen, EU-RL 2014/95/EU
[2] ISO 9001:2015, ONR 49000, ISO/IEC 31000:2009, COSO Framework; COSO ERM Framework, CObIT
[3] Siehe dazu auch THEUERMANN, C. (2015): S. 1-9; THEUERMANN, C.; FORSTINGER, M. (2015): S. 21-23; THEUERMANN, C.; EBNER, G. (2015): S. 7-18; THEUERMANN, C.; EBNER, G. (2014): S. 17-18; THEUERMANN, C.; EBNER, G. (2012): S. 102-104; THEUERMANN, C. (2011): S. 18-20; THEUERMANN, C. (2011): S. 11-14