Analysis of the Risk Management Practice in the Serbian Companies

The subject of this research is to determine the level of risk management within companies which perform businesses in the Republic of Serbia. The aim of the study is to underline the importance of international practice and standards in implementing risk management process in the daily business of legal entities. On the basis of sample of 154 companies which perform business in the Republic of Serbia in 2015 (as extension of executed research in the period from 2012 to 2014 on the sample of 4,084) it is confirmed that harmonization of regulation in the risk management and international financial reporting contributes to improvement of reporting on risk management in Serbian companies. Differences in the level of development and reporting on risk management, are determined by regulation in particular industries; education, competence and experience of employees; ownership structure and applied information technologies. The future researches will go in direction of ascertaining the connection between reporting on risk management and the business performances of entities in real and insurance sectors.