Risk reporting to the board of directors
Regine, Slagmulder
Regine, Slagmulder
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Publication Type
Book Chapter
Editor
Supervisor
Publication Year
2017-03-27
Journal
Book
The Routledge Companion to Accounting and Risk
Publication Volume
Publication Issue
Publication Begin page
172
Publication End page
186
Publication Number of pages
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Abstract
This chapter focuses on the risk oversight matters and offers a number of suggestions for further research. It briefly discusses the formal structure and roles and the risk reporting mechanisms at board level before summarizing some of our own case study findings. The chapter finds that risk management in general and risk reporting in particular could be fairly mature even in the absence of a chief risk officer (CRO). The chapter considers risk information as a subset of management accounting information. It pays particular attention to risk information given its importance in strategic decision-making. The chapter examines an integrated analysis of board risk reporting that considers both the risk governance structures and information characteristics as predictors of the board's ability to effectively oversee risk. Based on the exploratory field research, it concludes that board-level risk committees and formal risk reporting lines are necessary but insufficient arrangements for boards to carry out their risk oversight responsibilities.
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Keywords
3501 Accounting, Auditing and Accountability, 35 Commerce, Management, Tourism and Services, Prevention, Patient Safety