The reported Profit include important financial data That's when Decisions are taken by individuals. Financial analysts generally consider reported earnings as a prominent factor in their own judgments and judgments. The purpose of this study was to investigate The relationship between risk management and corporate governance is based on the fluctuation of earnings of companies listed in Tehran Stock Exchange. This research has three hypotheses. The research done in terms of target type is a part of applied research and the research method is correlated in terms of content and content. The research has been conducted within the framework of deductive-inductive arguments And for analyzing the hypotheses, panel analysis has been used Based on information gathered from 157 accepted companies in Tehran Stock Exchange the years 2009 to 2015 , The hypotheses were tested. At the end of the test, the hypotheses 1 showed that there was a significant and positive relationship between environmental uncertainty and volatility, and tested the hypotheses of the two markers The indicator showed that corporate governance has no effect on the fluctuation of returns. On the other hand, considering the third hypothesis, in the presence of uncertainty, corporate governance will have a significant effect on the fluctuation of returns.