Risk and risk management in management accounting and control
By Kim Soin, Paul M. Collier. 2013
173 citations recorded by the source corpus.
Abstract Recent world events, most notably the global financial crisis, have refocused and intensified interest on risk and the nature of systems that operate to manage risk. One area that has received relatively little attention is the interrelation between risk, risk management and management accounting and control practices. This editorial provides an introduction to the special issue of the journal on “Risk and Risk Management in Management Accounting and Control”. It argues that risk and the way it is managed has become a feature of organizational life in both the public and private sectors. By changing organizational practices risk management can facilitate and legitimise certain ways of organizing. It has the potential to change lines of responsibility and accountability in organizations, representing a particular way of governing individuals and activities. The argument is further made that risk management has moved away from being an issue of narrow concern to finance (value at risk, derivatives, etc.) or accountants (financial statement disclosure, etc.) to an issue about management control and therefore a key area in which management accountants need to engage. This editorial also highlights the potential side-effects of risk management, including issues around trust and accountability, but also the focus on secondary or defensive risk management and the rise of reputation risk.
Subfields: Accounting, Management Information Systems
View Paper: https://www.semanticscholar.org/paper/63c61fe4740357b6780fed1807dc38a0c9c0fb42
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In Accounting
In Management Information Systems
Citations in the corpus
- Enterprise Risk Management Practices and Firm Performance, the Mediating Role of Competitive Advantage and the Moderating Role of Financial Literacy (2018, background): “For instance, it reduces accounting costs, efficiently manages the operational costs, and can take responsibility for accounting accuracy (Soin and Collier 2013).”