Fundamentals of Risk Management for Accountants and Managers

1st Edition

Tools & Techniques

Authors: Paul M. Collier
Paperback ISBN: 9780750686501
Imprint: Butterworth-Heinemann
Published Date: 30th March 2009
Page Count: 328


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Both financial and non-financial managers with accountability for performance at either a strategic level or for a business unit have responsibility for risk management, in terms of failing to achieve organisational objectives. Fundamentals of Enterprise Risk management is structured around four parts and 26 self-contained chapters. Each chapter will have ample practical examples and illustrations/mini-case studies from retail, manufacturing and service industries and from the public and not-for-profit sectors to enable the reader to understand and apply the concepts in the book.

Key Features

Increase your awareness and understanding of enterprise risk management; Enable you to to play a more important role in an organisation's risk management process;

  • Help you to producing information and implement controls that contribute to the effective management of risk.


  • Undergraduate and postgraduate accounting and management students
  • Students from a variety of disciplines aspiring to general management
  • Specialist students of risk management who want a broad-based enterprise-level understanding of risk management

Table of Contents

Part A: Introducing risk management 1.The emergence of risk The origins of the risk discipline in OH&S, insurance, project management and financial derivatives. Influence of key writers such as Beck and Adams. 2.The corporate governance agenda The influence of Cadbury, corporate failures at Enron and WorldCom, Sarbanes-Oxley, the King Report, audit and risk committees. 3.Corporate governance and risk management in the public and not-for-profit sectors

Part B: A strategic perspective on Enterprise Risk Management 4.Towards Enterprise Risk Management (ERM) The traditional approach to risk management compared with ERM. Various models of risk management, e.g. COSO (US), the IRM (UK), the Australian risk standard, Basel, etc. 5.Risk and strategy: product/markets, supply chain, competitive position, brands, regulation, technology change, reputation, distribution channels. Risk and sustainable competitive advantage. 6.Risk categorisation Types of risk and the advantages of categorisation 7.Techniques for identifying and assessing risks Likelihood/consequences. Risk registers. Risk reviews. 8.The manager's role in risk management Role of the risk manager. Risk management groups. Risk management software. Risk management policy 9.Risk and culture Risk appetite. National, organisational and professional cultures. Embedding risk into the organisation.

Part C: Risk applications in the organisation 10.Risk and financial reporting Reporting to shareholders, divisional performance measurement 11.Risk and financial decision making Budgeting, profitability analysis, capital investment 12.Risk and information systems Systems design, development an


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About the Author

Paul M. Collier

Affiliations and Expertise

Senior Lecturer, Management Accounting, Department of Accounting and Finance, Monash University in Melbourne, Australia


"I think that this book could be used for students at a number of levels. For example in the 1st year of our undergraduate degree we have struggled to find a text that that gives the students a flavour of the in-depth topics that will follow"