HYPERION ECONOMIC JOURNAL

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• Alexandra Delia Bugnariu, PhD Student, Affiliation: „1 Decembrie 1918” University - Alba Iulia, Romania;
• Pamela Patrizia Podhora, PhD Student, Affiliation: „1 Decembrie 1918” University - Alba Iulia, Romania;
• Claudiu Deac, PhD Student, Affiliation: „1 Decembrie 1918” University - Alba Iulia, Romania;

The risk management is based on a series of laws and standards and represents one of the key components of an organization. Managing risks mean finding strategies, achieving goals and making informed decisions. Performing risk management, the companies can be prepared for uncertainty situation as well as possible, keeping the organization being less vulnerable and giving a measure plan to follow in case of something goes wrong. This paper presents aspects of risk management concept and the relationship between risk management system and internal control system.

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