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A Critical Review of Risk Reporting in Financial Statements

Marzouk, Mahmoud; Linsley, Philip and Verma, Shraddha (2017). A Critical Review of Risk Reporting in Financial Statements. In: Woods, Margaret and Linsley, Philip eds. The Routledge Companion to Accounting and Risk. Abingdon: Routledge, pp. 64–81.

URL: https://www.routledge.com/The-Routledge-Companion-...
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Abstract

Today's business environment is often perceived as beset with risks and uncertainties with companies exposed to a wide range of internal and external risks. Thus, in this constantly changing business environment it is generally acknowledged that companies face many threats, challenges and uncertainties including (but not limited to) economic, political and social risks. Operating in a volatile and unpredictable business environment requires companies and other organisations to have an effective risk management system and strategies to contend with risks. These challenges may not only affect company performance but also endanger a company's survival. Therefore, as a part of good governance, firms should develop strategies to respond to such challenges and mitigate or take advantage of their protential impacts and outcomes. In this way they can protect and create wealth for shareholders.

Item Type: Book Section
Copyright Holders: 2017 The Authors
ISBN: 1-138-86012-3, 978-1-138-86012-4
Keywords: managerial accounting; financial risk management
Academic Unit/School: Faculty of Business and Law (FBL) > Business > Department for Accounting and Finance
Faculty of Business and Law (FBL) > Business
Faculty of Business and Law (FBL)
Item ID: 51272
Depositing User: Shraddha Verma
Date Deposited: 09 Oct 2017 08:40
Last Modified: 07 Dec 2018 10:57
URI: http://oro.open.ac.uk/id/eprint/51272
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