The Risk Management of Everything
Professor Michael Power, 23 June 2004, The Great Hall, Chartered Accountants Hall, Moorgate Place, London.
Professor Michael Power gave the 2004 PD Leake Trustees Lecture. He examined the expansion in the scope of risk management since the mid-1990s, its centrality to agendas for corporate governance and regulation, and its emergence as a generic model of rational organisation that is increasingly formal and systematic. He analysed new objects of risk management (reputation, operational risk) and the role of risk officers with a view to explaining how and why these changes have taken place and their implications for private and public sector organisations.
The lecture also sounded a note of caution about this pervasive new risk management and its (unintended) potential to amplify blame cultures and defensiveness at the expense of innovation and the proper exercise of professional judgment.
For further details see P D Leake Trust Lecture 23 June 2004 (PDF).
The PD Leake Trust is a charity associated with the Institute of Chartered Accountants in England and Wales.