Özet:

Risk is the potential losses caused by events that may adversely affect the accomplishment of company objectives. Companies are directly under threat due to the existence of risks. To prevent company bankruptcies, it is important to identify these risks in advance and take precautions. Article 378 and 625/1-e of the Turkish Commercial Code No. 6102 (TCC) made establishment of the Early Risk Detection Committee mandatory for the joint stock companies and limited companies. However, the procedures and principles of the committee are not explicitly stated in the law. This vagueness may rise possible problems in practice. Questions such as ‘Should a risk management system be established in a broad sense?’ ‘Would it be enough to establish mandatory committees only in listed companies to create risk awareness?’are open to discussion. To answers these questions, the 2019 annual reports of the companies listed in the BIST-Corporate Governance index were examined. The results reveal the need to set risk management standards by the Public Oversight Board in order to solve problems arising in practice. This study will help to identify the problems that may arise in practice in order to improve the law and will propose solutions to these problems.

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