A Study To Analyse The Effect Of Regulations On Risk Management And Internal Control Systems In Financial Institutions

Abstract

Examining the "financial organisations affect risk management along with internal control systems" from a sensemaking standpoint, this research uses quantitative methods to assess their impact on risk across all datasets. The need to enhance data utilisation and consolidate FIAR's capacity to aid financial institutions in influencing risk-all decision-making is the principal impetus for the endeavour. Since FIARs affect the abilities of stakeholders like educators, administrators, and politicians, researchers explore their design and function extensively throughout their formation. As part of their sensemaking evaluation, researchers look at how the FIAR affected stakeholders' ability to understand and use data strategically. Researchers can only do this by studying user behaviour and determining how well the system facilitates data-driven insights and well-informed decision-making. At the same time, the research employs quantitative methods to examine the impact of financial institutions on the risk data sets maintained by the FIAR. Verifying the data's accuracy, completeness, and use is a top priority for this project. Part two is understanding how these quantitative evaluations might influence policy decisions and risk outcomes to benefit financial firms. Data reliability and data relevance are two of the metrics being examined, along with the impact of data-driven decisions on instructional strategies. The findings should provide insight into how to enhance FIAR's growth to enhance students' sensemaking abilities and incorporate quantitative methods into the classroom. Improving financial institutions that impact risk management outcomes is the project's ultimate objective