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International Finance and Accounting

Abstract

There is a growing need for real sector enterprises to develop and implement robust systems and structures for financial risk management. Although different standards for financial risk management are currently in place around the world, there is a growing need to build a single model that integrates the financial risks of enterprises into all enterprise systems. At the same time, the financial crisis and post-pandemic corporate conflicts point to shortcomings in financial risk management. As a result, our article considers the “Three Defense Models” in the context of financial risk management in real sector enterprises of the Republic of Uzbekistan, focuses on their tasks and responsibilities, and then analyzes the effectiveness of the traditional three defense models. The lack of a common understanding of defense areas in real sector enterprises leads to duplication of roles and gaps in coverage.

References

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