This CIMA research report builds on a pilot study undertaken by the authors. A framework for risk management was developed as a result of the research. This research report describes the results of a major survey-based research study entitled 'Risk and Management Accounting: The development of best practice guidelines for enterprise-wide internal control procedures to identify and manage risk; the contribution of and the consequences for management accountants'. This CIMA research report shows: * How (and why) organizations and their management accountants develop effective internal control systems to identify and manage risk * How (and why) organizations and their management accountants construe risk in their professional and managerial roles
Author(s): Paul M. M Collier, Andrew Berry, Gary T T Burke
Publisher: CIMA Publishing
Year: 2006
Language: English
Pages: 188
Cover......Page 1
Risk and Management Accounting: Best Practice Guidelines for Enterprise-wide Internal Control Procedures......Page 4
Copyright Page......Page 5
Contents......Page 6
About the Authors......Page 10
Acknowledgements......Page 12
List of Figures......Page 14
List of Tables......Page 16
Executive Summary......Page 18
Introduction......Page 28
Governance, risk and control......Page 30
Corporate governance......Page 32
Risk......Page 34
Risk management......Page 39
Managers and risk......Page 42
Risk and control......Page 47
The changing role of management accountants......Page 49
Summary......Page 51
Exploratory case studies......Page 54
Research design......Page 56
Research findings......Page 57
Summary of main case study findings......Page 62
Survey research......Page 64
Survey design......Page 66
The survey instrument......Page 70
Survey analysis......Page 72
Survey results......Page 78
Summary of main survey findings......Page 100
Interview data......Page 104
The traditional approach to risk management......Page 106
Explanations for survey results......Page 109
Summary of main interview findings......Page 123
Note......Page 124
Research findings......Page 126
The literature review......Page 128
Summary of main case study findings......Page 129
Summary of main survey findings......Page 130
Summary of main interview findings......Page 132
Revised framework for risk management......Page 133
Risk and the social construction of uncertainty......Page 136
The risk of control......Page 137
Limitations of the research......Page 138
Summary of research and best practice implications......Page 140
The importance of risk management......Page 142
Research conclusions......Page 145
Summary of research findings and implications for best practice......Page 147
Summary of best practice implications......Page 150
Implications for risk managers and management accountants......Page 152
References......Page 154
Appendix 1 Copy of questionnaire......Page 160
Appendix 2 Expanded statistical tables......Page 166
Index......Page 180
