Reporting and managing risk - CIMA - Chartered …

Reporting and managing risk A look at current practice at Tesco, RBS, local and central governmentResearch executive summary seriesVolume 6 | Issue 8 Margaret Woods Aston University, UKReporting and managing risk A look at current practice in the private and public sectors | 1 Key findings: Risk management is no longer solely a financial discipline, nor is it simply a concern for the internal control function. Where organisations retain a discrete risk management cadre often specialists at monitoring and evaluating a range of risks their success is dependent on embedding risk awareness in the wider culture of the enterprise. Risk management is most successful when it is explicitly linked to operational performance. Clear leadership, specific goals, excellent influencing skills and open-mindedness to potential threats and opportunities are essential for effective risk management .

2 | Reporting and managing risk A look at current practice in the private and public sectors This research was funded by the Chartered Institute of Management Accountants in association with the

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