Professor Michael  Power

Professor Michael Power

Professor of Accounting

Department of Accounting

+44 (0)20 7955 7228
Room No
MAR 3.43
Office Hours
By appointment, please email
Connect with me

Key Expertise
Accounting, Risk Management, Valuation Processes in Organizations, Auditing

About me



Fellow of the British Academy and Academic Governor of the LSE.  Educated at St Edmund Hall, Oxford; Girton College Cambridge; and LSE.  Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW); Associate member of the UK Chartered Institute of Taxation; and Honorary Fellow of the Institute for Risk Management (IRM).  Has held visiting fellowships at the Institute for Advanced Study, Berlin and at All Souls College, Oxford.  Honorary Doctorate in Economics, University of St Gallen, Switzerland, 2009; Honorary Doctorate in Social Science, University of Uppsala, Sweden, 2013; Honorary Doctor of Economics, Turku University, 2016.  Former Director of the Centre for the Analysis of Risk and Regulation (CARR) at LSE and holder of a number of advisory and external non-executive roles in the financial services sector.

Research interests

  • Values and valuation processes in organizations
  • The causes and social consequences of auditability, transparency and accountability
  • The role of external and internal auditing in corporate governance
  • Internal control systems, operational risk management, errors and risk reporting
  • Financial regulation and financial reporting
  • Organizations, regulation and standardization 
  • Full CV


  • Associate Editor of Accounting, Organizations and Society

Editorial Boards

  • Journal of Cultural Economy
  • British Accounting Review


Selected books

  • Riskwork: Essays on the Organizational Life of Risk Management (Oxford University Press, 2016)
  • (With Tommaso Palermo, Simon Ashby).Risk Culture in Financial Organizations: a Research Report. London: Financial Services Knowledge Transfer Network/CARR, 2013.pp.103
  • Organized Uncertainty: Designing a World of Risk Management (Oxford University Press, 2007). Translated into Japanese in 2010. Click here for more details.
  • (with B.Hutter) Organizational Encounters with Risk (Cambridge: Cambridge University Press, 2005). Click here for more details.
  • The Risk Management of Everything (London: Demos, 2004)
  • The Audit Society: Rituals of Verification (Oxford: Oxford University Press, 1997; second paperback edition 1999). Translated into Italian (2002), Japanese (2003) and French (2005).

Recent articles

  • (with T.Palermo and S. Ashby)  'Navigating institutional complexity: the production of risk culture in the financial sector’ Journal of Management Studies (accepted for publication). Read here.
  • 'How accounting begins: object formation and the accretion of infrastructure’.Accounting, Organizations and Society (2015) 47:43-55. Read here.
  • (with Yves Gendron) Qualitative research in auditing: a methodological roadmap.  Auditing: A Journal of Practice and Theory (2015) 34(2): 147-165. Read here.
  • (with Andrea Mennicken) Accounting and the plasticity of valuation. In M.Hutter & D. Stark (Eds.) Moments of Valuation: Exploring Sites of Dissonance. Oxford: Oxford University Press (2015) pp.208-228. Read here.
  • (with Simon Ashby and Tommaso Palermo). Risk Culture: Definitions, Change Practices and Challenges for Chief Risk Officers).  In P.Jackson (Ed.) Risk Culture and Effective Risk Governance. London: Risk Books, 2014) pp.25-46. Further information here.
  • ‘Risk, social theories and organizations’. In Paul Adler, Paul du Gay Glenn Morgan and Mike Reed (eds), The Oxford Handbook of Sociology, Social Theory and Organization Studies: Contemporary Currents.  Oxford: Oxford University Press (2014), pp.370-92. Further information here.
  • ‘The apparatus of fraud risk' Accounting, Organizations and Society (2013) 38:525-543. Read here.
  • (with Peter Miller). Accounting, organizations and economization: connecting accounting research and organization theory The Academy of Management Annals(2013) 7(1):555-603. Read here.
  • 'Foucault and sociology' Annual Review of Sociology (2011) 37: 33-54. Read here.
  • 'Smart and dumb questions to ask about risk management' RiskWatch (2011) May, pp.2-5. Toronto: Conference Board of Canada. Read here.
  • 'Fair value, financial economics and the transformation of accounting reliability' Accounting and Business Research (2010) 40(3):197-210. Read here.
  • 'The risk management of nothing.' Accounting, Organizations and Society (2009) 34(6/7): 849-55. Read here.