TY - JOUR
T1 - Exploring the oversight of risk management in UK higher education institutions
T2 - the case of audit committees
AU - Soobaroyen, Teerooven
AU - Ntim, Collins G.
AU - Broad, Martin J.
AU - Agrizzi, Dila
AU - Vithana, Krishanti
PY - 2019/10/2
Y1 - 2019/10/2
N2 - 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.
AB - 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.
KW - Audit committee
KW - governance
KW - higher education
KW - risk management
UR - http://www.scopus.com/inward/record.url?scp=85068092780&partnerID=8YFLogxK
UR - https://www.tandfonline.com/doi/full/10.1080/01559982.2019.1605872
U2 - 10.1080/01559982.2019.1605872
DO - 10.1080/01559982.2019.1605872
M3 - Article
AN - SCOPUS:85068092780
SN - 0155-9982
VL - 43
SP - 404
EP - 425
JO - Accounting Forum
JF - Accounting Forum
IS - 4
ER -