Exploring the oversight of risk management in UK higher education institutions: the case of audit committees
Exploring the oversight of risk management in UK higher education institutions: the case of audit committees
We explore how audit committees (ACs) oversee risk management in UK Higher Education Institutions (HEIs), using semi-structured interviews, attendance at AC meetings and documentary analysis. We find that the AC’s oversight seems constrained by a fixation on the process of risk management, an over-reliance on risk registers, and varying levels of emphasis on operational risks. Theoretically, the AC’s oversight reflects different shades of symbolic and substantive activities designed to maintain the HEI’s legitimacy and that of its governing board, hence providing a symbolic representation. We raise concerns as to the AC’s ability to monitor effectively the HEIs’ risk management practices.
audit committee, risk Management, governance, higher education, UK
404-425
Soobaroyen, Teerooven
6686e2f8-564f-4f7f-b079-9dc8a2f53a48
Ntim, Collins
1f344edc-8005-4e96-8972-d56c4dade46b
Broad, Martin
81955ffa-a9d3-42cd-99c8-52e06cd67424
Agrizzi, Dila
bf4dd7b5-e685-45ca-90d8-a3e00a232401
Vithana, Krishanthi
f6916e65-2c61-43ab-8ce3-897a2f8b6591
2019
Soobaroyen, Teerooven
6686e2f8-564f-4f7f-b079-9dc8a2f53a48
Ntim, Collins
1f344edc-8005-4e96-8972-d56c4dade46b
Broad, Martin
81955ffa-a9d3-42cd-99c8-52e06cd67424
Agrizzi, Dila
bf4dd7b5-e685-45ca-90d8-a3e00a232401
Vithana, Krishanthi
f6916e65-2c61-43ab-8ce3-897a2f8b6591
Soobaroyen, Teerooven, Ntim, Collins, Broad, Martin, Agrizzi, Dila and Vithana, Krishanthi
(2019)
Exploring the oversight of risk management in UK higher education institutions: the case of audit committees.
Accounting Forum, 43 (4), .
(doi:10.1080/01559982.2019.1605872).
Abstract
We explore how audit committees (ACs) oversee risk management in UK Higher Education Institutions (HEIs), using semi-structured interviews, attendance at AC meetings and documentary analysis. We find that the AC’s oversight seems constrained by a fixation on the process of risk management, an over-reliance on risk registers, and varying levels of emphasis on operational risks. Theoretically, the AC’s oversight reflects different shades of symbolic and substantive activities designed to maintain the HEI’s legitimacy and that of its governing board, hence providing a symbolic representation. We raise concerns as to the AC’s ability to monitor effectively the HEIs’ risk management practices.
Text
Accepted_Manuscript_Accounting_Forum_18_September_2018
- Accepted Manuscript
More information
Accepted/In Press date: 17 September 2018
e-pub ahead of print date: 27 September 2018
Published date: 2019
Keywords:
audit committee, risk Management, governance, higher education, UK
Identifiers
Local EPrints ID: 424179
URI: http://eprints.soton.ac.uk/id/eprint/424179
ISSN: 0155-9982
PURE UUID: 6260f0a1-0727-4735-bde3-3fa7afd0df9f
Catalogue record
Date deposited: 05 Oct 2018 11:33
Last modified: 16 Mar 2024 07:05
Export record
Altmetrics
Contributors
Author:
Teerooven Soobaroyen
Author:
Martin Broad
Author:
Dila Agrizzi
Download statistics
Downloads from ePrints over the past year. Other digital versions may also be available to download e.g. from the publisher's website.
View more statistics