Audit committees have been an integral part of risk management in financial services organisations for longer than in the rest of the economy. But the pressures on audit committee performance are growing. The authors, who have provided a guidance document published by the ICAEW, show how...

The issue of how banks should disclose the effects of financial instruments is fraught. The global standard‐setting community put forward their views in what became known as the Joint Working Group’s proposals. These aroused strong feelings in the banking world. This article is the first...

The authors explain how risk management can increase the value of an organisation. They look at issues like globalisation, shareholder value, the effect of corporate governance and the input of the finance director and show how all these issues, properly discussed and communicated through the...

The authors provide an overview of their research into the attitudes of UK managers to risk and uncertainty. They find that, when it comes to decision making, managers in UK enterprises tend to focus on loss aversion rather than risk aversion. They found that managers’ personal attitudes to...

The field of financial services is one of the fastest changing sectors of the economy. The author argues that this and the changing motivation of people working in the financial services sector mean that a new approach is required to ensure that change both can be managed and can benefit the...

When it comes to the way in which banks report the effects of financial instruments, the position of the global accounting firms is crucial. This article explores the difficulties ahead. It suggests that fair value has a place in the system but that using them to report earnings would create...