Risk management standards at Russian Federation enterprises under established restrictions

• Aliya A. Gataullina

  Kazan (Volga Region) Federal University. Kazan. Russia

• Alina R. Giniyatullina

  Alina R. Giniyatullina. Kazan (Volga Region) Federal University. Kazan. Russia

• Alina A. Zyabbarova

  Alina A. Zyabbarova. Kazan (Volga Region) Federal University. Kazan. Russia

This article is dedicated to the study of the features when applying risk management standards in Russia under the conditions of sanctions’ restrictions. Developing risk management strategies for the companies affected by geopolitical restrictions is an important component of risk management. The purpose of the study is to assess the possibility of applying international and national risk management stan-
dards in modern Russian practice. The subject of the study is the characteristics of international and national risk management standards ISO 31000:2018, COSO ERM:2017, FERMA:2002, AS/NZS 4360:2004, CAN/CSA Q 850:1997, JIS Q 2001:2001, as well as various GOSTs. The research method is based on a comparative analysis of the provisions of these regulatory documents in the field of risk management, pay-
ing special attention to the limitations and advantages of applying standards in Russian practice. The work identifies a range of comparative criteria such as preferential territorial use; object of assessment; restrictions on their use in the Russian Federation; advantages of their application in the Russian Federation; the presence their official translation into Russian, etc. As the result of the analysis, it was revealed that ISO 31000:2018 and GOST 31000:2019 are applicable to various industries, but require integration with other standards. FERMA:2002 provides valuable risk management methods for Russian enterprises, accessible in modern business realities. National standards COSO ERM:2017, AS/NZS 4360:2004, CAN/CSA Q 850:1997, JIS Q 2001:2001 are local in nature; their application in Russian practice is difficult due to the
lack of translation into Russian. The work has practical significance, helping enterprises assess the possibilities and directions for implementing a risk management system in order to adapt their business models to new conditions and mitigate possible risks associated with foreign restrictions.
Keywords: risk, standard, enterprise management, sanctions, risk management, international standards, FERMA, COSO ERM, ISO.