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Daelen, Marijn van; Van der Elst, Christoph; van de Ven, Arco --- "Risk Management Interconnections in Law, Accounting and Tax" [2010] ELECD 581; in van Daelen, Marijn; Van der Elst, Christoph (eds), "Risk Management and Corporate Governance" (Edward Elgar Publishing, 2010)

Book Title: Risk Management and Corporate Governance

Editor(s): van Daelen, Marijn; Van der Elst, Christoph

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781849803953

Section: Chapter 6

Section Title: Risk Management Interconnections in Law, Accounting and Tax

Author(s): Daelen, Marijn van; Van der Elst, Christoph; van de Ven, Arco

Number of pages: 42

Extract:

6. Risk management interconnections
in law, accounting and tax
Marijn van Daelen, Christoph Van der Elst and
Arco van de Ven

6.1 INTRODUCTION

The problems that occurred at the turn of the century and the recent
financial scandals brought internal control and risk management issues
into the spotlight. Although the previous chapters have shown that
risk management is not a new feature of businesses and corporate
governance, it is currently high on the corporate agenda. Academics,
policymakers and lawmakers, as well as practitioners, focus on risk
management discussions. Many papers and books are written on the
subject. However, a comprehensive approach in accounting, and busi-
ness, financial and tax law to risk management is non-existent. These
fields are all interrelated and describe and require particular behaviour
within organizations.
The multidisciplinary approach of this chapter can give insight into the
overall influence of risk management on companies and on society as a
whole, taking the corporate governance discussion to a higher level. The
previous chapters have provided an elaborate account of the development
of risk management in business, financial and tax law, and accounting
at EU level, within some EU member states and in the US. The previ-
ous chapters have also explored current risk management discussions
and reforms in order to identify possible future directions. This chapter
aims to set forth new insights derived from a multidisciplinary approach.
Building on the previous chapters, Section 6.2 will explore risk manage-
ment developments from a multidisciplinary approach and convey ...