LSE ranked first in the UK for Business and Management Studies

The LSE Department for Accounting enjoys a strong international reputation for expertise in the economic, institutional and organisational aspects of accounting and financial management, with research focused on accounting, organisations and institutions; financial accounting and capital markets; and management accounting and performance measurement.

Members of the Department use a variety of approaches to tackle a wide range of research questions, drawing on other areas of social science including economics, finance, history, law, management, organisation studies, and sociology. In some instances, researchers work closely with faculty from other parts of LSE, including in the Centre for the Analysis of Risk & Regulation (CARR), which the Department houses but which involves faculty from the departments of Government, Law, and Sociology.

The strength of this cross-disciplinary and collaborative approach is evident in the results of the 2014 Research Excellence Framework assessment, to which the Department made a joint submission with the LSE Department of Finance and LSE Department of Management. An impressive 48 per cent of the work included in the submission was classed as 'world-leading’ (4 star), with a further 38 per cent rated ‘internationally excellent’ (3 star), a result that saw LSE ranked first in the UK for Business and Management Studies.

In part, the Department’s success derives from its status as a thriving forum for the exchange of ideas, not just among academics but with regulators, such as Ofgem and the Financial Reporting Council; accounting standard setters such as the International Accounting Standards Board; professional bodies, including the Chartered institute of Management Accountants (CIMA) and the Institute of Chartered Accountants in England and Wales (ICAEW); and UK Government policy-makers. The Department is also committed to academic exchange and practitioner outreach through a combination of workshops, conferences  and lectures, as well as contributions to executive education.

These links help ensure the relevance of the Department’s work well beyond academia. Widely-cited CARR research carried on ‘risk culture’ has helped UK and international organisations (including the NHS) adopt more effective auditing and risk management processes. CARR has also supported the development of proposals for audit reform in the UK, Canada and the Netherlands in the wake of the financial and economic crisis.

The Department has recently invested heavily to expand its faculty to further reinforce its reputation for high-quality, relevant research. Current research initiatives, including the use of a capital markets perspective to explore financial reporting, offer exciting opportunities for greater engagement with the international financial sector.

Departmental results: Business and Management Studies

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Impact Case Study Summaries

Reforming auditing and risk management to improve governance - Mike Power