Is risk reporting a possible link between financial and management accounting in private firms?

Chiara Crovini and Giovanni Ossola

FINANCIAL REPORTING, 2021, vol. 2021/1, issue 1, 29-60

Abstract: This study represents a theoretical analysis with the purpose to continue the discussion on the relationship between management accounting (MA) and financial accounting (FA), by concentrating on the role of risk reporting as a possible manifestation of their convergence. Moreover, the analysis focuses on the private-firm sector as private firms represent the backbone of the economic system of several countries and little is known about financial and non-financial reporting. Drawing on the neo- Durkheimian institutional theory, this paper develops a conceptual framing that considers risk as an embedded element of the business domain and risk reporting as a direct outcome of the convergence between MA and FA in private firms. Furthermore, the neo-Durkheimian institutional theory emphasizes that the owners and managers? risk attitude is a crucial element affecting risk disclosure, especially in private firms.

JEL-codes: G14 G18 L20 M41 M48 (search for similar items in EconPapers)
Date: 2021
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