Enterprise Risk Management and the Financial Reporting Process: The Experiences of Audit Committee Members, CFOs, and External Auditors
通过对11家上市公司治理三角（审计合伙人、首席财务官、审计委员会成员）的半结构化访谈，发现三者均认为企业风险管理与财务报告流程紧密相关，但实际角色多聚焦于代理理论，资源依赖理论被相对忽视，且存在审计师未充分利用企业风险管理的期望差距。
Abstract The recent financial crisis has brought to the forefront the need for companies to effectively manage their risks. In this regard, one approach that has gained prominence is enterprise risk management ( ERM ). Importantly, little is known about the link between ERM and the financial reporting process. This link is critical, because it is imperative that financial reporting adequately depicts the financial status (e.g., valuations, estimates) and associated risks of a company as revealed by ERM . Additionally, from an auditing perspective, ERM affects the risks of misstatement, which should impact audit planning. Accordingly, the objective of this study is to examine the experiences of audit partners, CFO s, and audit committee ( AC ) members (“the governance triad”) on the link between ERM and the financial reporting process. To determine whether members of the governance triad focus on monitoring, strategy, or both, we also examine their definition of and experiences with ERM with respect to agency and/or resource dependence theory. To address these issues, we conduct semistructured interviews of experienced individuals that form the governance triads from 11 public companies. There are three major findings from our study. First, importantly, all three types of participants see a strong link between ERM and the financial reporting process. Second, despite recognition of the broad nature of ERM , the predominant experiences of the actual roles played by triad members center on agency theory, while resource dependence may be relatively underemphasized by all triad members. Finally, CFO s and AC members indicate that auditors may be especially underutilizing ERM in the audit process, suggesting an “expectations gap.”