Risk management
Compliance with risk mitigation requirements has been the focus of the last couple of years. More attention should now be placed on enterprise risk management.
Risks should be seen as opportunities as well as potential threats.
Finance/business partners need to understand that putting descriptions, actions and controls against risks are more important than numbers.
A number of publications are available on this website. More articles and reports can be found in further reading (PDF 56KB).
Risk and management accounting: best practice guidelines for enterprise-wide internal control procedures (PDF 79KB) has two main objectives. They are to understand:
- how (and why) organisations and their management accountants develop effective internal control systems to identify and manage risk
- how (and why) organisations and their management accountants construe risk in their professional and managerial roles.
Managing risk to enhance stakeholder value (PDF 460KB) is a collection of articles that focus on the theme of risk management. They include the traditional review of the financial risks of a company and the emerging application of risk management techniques in strategy, reputation and people.
