Purpose – This article lays out some conceptual considerations of how dynamic accountability and risk reporting practices could be tailored during and after a global pandemic. Design/methodology/approach – This conceptual paper seeks to foster the debate on the crucial role of risk reporting considering the impact and uncertainty caused by the coronavirus disease 2019 (COVID-19) pandemic and stakeholder information needs in this context. The authors draw upon neo-Durkheimian institutional and legitimacy theories and elements of the accounting and risk management literature to discuss the challenges that the pandemic poses to risk recognition and assessment and the subsequent disclosure decision of risk information. Findings – Risk reporting has its roots in risk recognition and assessment. To live up to their accountability in these times of uncertainty, organisations need to address their stakeholders’ new and changing information needs. Ad hoc disclosures and linking risk management and reporting to their business models (BM) would improve the risk recognition and assessment practices and the meaningfulness of the disclosed information. Hence, we provide some examples and discuss potential avenues to address these challenges and adapt risk reporting accordingly. Originality/value – This conceptual paper contributes to the risk reporting and accountability research fields. Previous studies on communication during a crisis have focused on sustainability reporting. Thus, this study contributes to that literature by considering the role of risk reporting in times of an unexpected largescale global crisis, such as the COVID-19 pandemic, and by highlighting possibilities for moving risk reporting towards becoming more accountability based.

Dynamic accountability and the role of risk reporting during a global pandemic

Simoni, Lorenzo
2022

Abstract

Purpose – This article lays out some conceptual considerations of how dynamic accountability and risk reporting practices could be tailored during and after a global pandemic. Design/methodology/approach – This conceptual paper seeks to foster the debate on the crucial role of risk reporting considering the impact and uncertainty caused by the coronavirus disease 2019 (COVID-19) pandemic and stakeholder information needs in this context. The authors draw upon neo-Durkheimian institutional and legitimacy theories and elements of the accounting and risk management literature to discuss the challenges that the pandemic poses to risk recognition and assessment and the subsequent disclosure decision of risk information. Findings – Risk reporting has its roots in risk recognition and assessment. To live up to their accountability in these times of uncertainty, organisations need to address their stakeholders’ new and changing information needs. Ad hoc disclosures and linking risk management and reporting to their business models (BM) would improve the risk recognition and assessment practices and the meaningfulness of the disclosed information. Hence, we provide some examples and discuss potential avenues to address these challenges and adapt risk reporting accordingly. Originality/value – This conceptual paper contributes to the risk reporting and accountability research fields. Previous studies on communication during a crisis have focused on sustainability reporting. Thus, this study contributes to that literature by considering the role of risk reporting in times of an unexpected largescale global crisis, such as the COVID-19 pandemic, and by highlighting possibilities for moving risk reporting towards becoming more accountability based.
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11567/1048472
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