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Guest editorial

Guest editorial Risk governance and risk management in change: a guest editorial 1. Crises, scandals and change in risk governance and risk management Since the financial crisis of 2008, many organizations worldwide have rethought their approaches to risk governance and risk management (Bailey, 2019; Sinha and Arena, 2020; Stein and Wiedemann, 2016, 2018; Stein et al., 2019). These change processes have also been triggered by regulatory change, much of which has focused on the financial industry (Alexander, 2020; Gatzert and Kolb, 2013; Hanafizadeh and Marjaie, 2020; Sinha and Arena, 2020; Sheedy, 2021). In addition, corporate scandals such as BP’s Deepwater Horizon incident and Volkswagen’s Dieselgate scandal have led to questions about large corporations’ approaches to risk management and risk governance (Sheedy, 2021). A potential answer to address these issues is an increased focus on risk governance, where actors at the top of organizational hierarchies adopt a more holistic and strategic approach to steering risks (Stein and Wiedemann, 2016) and are more accountable for the risks their decisions include (Sheedy, 2021). In line with this notion, risk governance as a “system of rules and relationships in an organization that support decisions and oversight relating to risk” (Sheedy, 2021, p. 21) may need http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Accounting & Organizational Change Emerald Publishing

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Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
1832-5912
eISSN
1832-5912
DOI
10.1108/jaoc-02-2022-212
Publisher site
See Article on Publisher Site

Abstract

Risk governance and risk management in change: a guest editorial 1. Crises, scandals and change in risk governance and risk management Since the financial crisis of 2008, many organizations worldwide have rethought their approaches to risk governance and risk management (Bailey, 2019; Sinha and Arena, 2020; Stein and Wiedemann, 2016, 2018; Stein et al., 2019). These change processes have also been triggered by regulatory change, much of which has focused on the financial industry (Alexander, 2020; Gatzert and Kolb, 2013; Hanafizadeh and Marjaie, 2020; Sinha and Arena, 2020; Sheedy, 2021). In addition, corporate scandals such as BP’s Deepwater Horizon incident and Volkswagen’s Dieselgate scandal have led to questions about large corporations’ approaches to risk management and risk governance (Sheedy, 2021). A potential answer to address these issues is an increased focus on risk governance, where actors at the top of organizational hierarchies adopt a more holistic and strategic approach to steering risks (Stein and Wiedemann, 2016) and are more accountable for the risks their decisions include (Sheedy, 2021). In line with this notion, risk governance as a “system of rules and relationships in an organization that support decisions and oversight relating to risk” (Sheedy, 2021, p. 21) may need

Journal

Journal of Accounting & Organizational ChangeEmerald Publishing

Published: Jan 12, 2022

References