An information system model for risk based supervision of companies traded on stock exchanges

Recent decades have witnessed a massive growth in both academic studies of risk and development of risk industry and risk has become a new lens to view the world. In 1980s and 1990s a some countries experienced a regulatory crisis where governments need to review their current systems and turn to look at new methods to manage risk. Governments face more widespread and complex risks than before and today's citizens want a government that not only manages the consequences of risk, but also anticipate and handle issues before they turn catastrophic. In our study, we analyzed the existing regulatory framework of regulatory government authorities in financial industry, focused on the enterprise risk management practices and tried to develop a conceptual framework of a risk based supervisory system in companies whose shares are publicly traded on stock exchanges.