A proposed model for evaluating the performance of risk man-agement in light of the integration between the COSO framework and the balanced scorecard -Applied research in Kufa Cement and Babylon Cement factories

Abstract

This research aims to develop and apply a proposed model for integration between the (updated COSO) framework and the balanced scorecard, which would contribute to evaluating the performance of risk management. This research was applied in two factories of the Iraqi General Company for Cement/Southern Cooperative, namely the Kufa Cement factory and the Babylon Cement factory. The results showed that the integration between the updated COSO framework and the BSC contributes to evaluating the performance of risk management in the research sample. The most important recommendations presented by the research are the necessity of supporting the application of the proposed model presented in this study in Kufa Cement factory and Babylon Cement factory in particular and Iraqi industrial companies in general, due to its role in enhancing and increasing the effectiveness of risk management.