The aim of this seminar paper is to illustrate the topic “Legal requirements of risk management in Germany”. An insight into the legal requirements of risk management in a company, e.g. banks and insurances, will be provided. Furthermore, a practical example of risk management at Daimler AG will be described in the following section. Finally, the paper closes with a personal conclusion.
The term “risk” is described in literature in many different ways. Risk is being described as a possible deterioration compared to an ex-pected result (loss or damage risk). According to the law “Corporate Sector Supervision and Transparency Act” it means, that a company aspires to fulfil their goals. On the way there are several factors of risk that should be taken into account. The purpose of risk management is to identify, estimate and avert possible risks during a process. Originally, big American companies created risk management out of their insurance policy. Their goal was to significantly reduce insurance premium.
Table of contents
List of illustrations
Table of abbreviations
1 Introduction to Risk Management
1.1 Definition of Risk and Risk Management
1.2 The necessity of Risk Management
1.3 Functions of Risk Management
2 Legal Requirement of Risk Management
2.1 Corporate rules
2.1.1 Corporate Sector Supervision and Transparency Act
2.1.2 German Accounting Standards Committee
2.1.3 Risk management in accordance with IDW PS
2.1.4 Corporate governance rules
2.1.5 German Corporate Governance Code
2.2 Requirements for banks
2.2.1 Capital Accord - Basel II
2.2.2 The German Banking Act
2.2.3 Minimum Requirements on Risk Management
2.2.4 Solvency regulation
2.3 Requirements for insurance
2.3.1 Insurance Supervision Law (VAG)
3 The scope of KonTraG to other legal forms
4 Practical example of Risk Management at Daimler AG
5 Conclusion
List of literature
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Téléchargez vos propres textes! Gagnez de l'argent et un iPhone X.