Chapter 6: Risk Reporting

Bartol et al. (2005) state that a report is essentially the result of transforming data into information useful for:

Reporting is an essential component of the management process and forms a key element of formal down-up communication. Reporting provides key decision-makers with crucial information to help steer the organisation towards its objectives and goals. Reporting is essential because the executive management team and the board are ultimately accountable for the performance of the organisation and need to fully understand existing material risks and how they are being managed.

Although reporting is integral to the entire management process, it sits most comfortably within the management controlling function, which relates to obtaining information about the effectiveness of the entire management process. This information-gathering focuses on addressing the following question: