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Risk management is an important component of the competitiveness of every business entity and a prerequisite for making timely and correct decisions. Bearing this in mind, the question arises as to how the risk management process is established in companies, how developed it is, that is, what is the role of the internal control system for the purpose of detecting irregularities and risk management. This question also represents the basic research problem of this paper. The goal of the research is to theoretically and empirically process the connection between internal control and company management and to investigate the degree of development of internal control in manufacturing companies operating in Nišava District. Empirical research provides answers to the key question that is the basis of the research itself, namely: does internal control support the management function for the purpose of detecting irregularities and managing risks?
Mitrović et al. (Sat,) studied this question.