Genre: Information/Explanation

Balance Sheet Options: To add Favourites and Table of Contents Alerts please take a Emerald profile The risk of risk Document Information: Title: The risk of risk Author(s): Robert Eccles , (Dr Robert Eccles is founder and president of Advisory Capital Partners Inc., and a senior fellow of PricewaterhouseCoopers. He was previously a tenured professor at Harvard Business School for 14 years.), Robert Herz , (Robert Herz is North America leader of professional, technical, risk and quality with PricewaterhouseCoopers.), Mary Keegan , (Mary Keegan is now the chairman of the UK Accounting Standards Board. She was previously head of the Global Corporate Reporting Group at PricewaterhouseCoopers.), David Phillips , (David Phillips is a partner with PricewaterhouseCoopers in the UK assurance/business advisory services practice.) This is an exclusive extract from The ValueReporting Revolution: Moving Beyond the Earnings Game, a new book published by John Wiley & Sons, Inc., and written by four senior PricewaterhouseCoopers experts. In this extract they discuss the dilemma of risk management and risk reporting. They argue that there are difficulties in disclosing risk on the grounds that it causes problems with competitors and investors alike. There is also a lack of consensus of how market risk should be measured. They assess how to quantify operational risk and conclude that the gap between improving risk management techniques and risk disclosures needs to be closed.