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The growing movement for enterprise risk management in government: the United States begins to catch up

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  • Thomas H. Stanton

Abstract

After lagging the United Kingdom and Canada in managing risk of government agencies and programmes, the United States is beginning to catch up with action by a small and growing group of government officials seeking to apply a management approach known as "enterprise risk management" (ERM). Too often, information is bottled up in the middle or lower ranks of an organisation. In response, ERM seeks to open channels of communication so managers have access to information needed to make good decisions. Rather than limiting the focus to specific identified risks, ERM asks the larger question: What are the risks that could prevent my agency from achieving its goals and objectives? Recognising the value of ERM in improving government management, US central organisations - the Office of Management and Budget and the Government Accountability Office - are now working to institutionalise the new movement, which in the US government began from a confederation of officials across multiple government agencies rather than as a mandate from the top of an administrative hierarchy at the centre of government. This reflects the peculiar "stateless" aspect of US public administration.

Suggested Citation

  • Thomas H. Stanton, 2015. "The growing movement for enterprise risk management in government: the United States begins to catch up," Asia Pacific Journal of Public Administration, Taylor & Francis Journals, vol. 37(3), pages 182-192, September.
    • Handle: RePEc:taf:rapaxx:v:37:y:2015:i:3:p:182-192
    DOI: 10.1080/23276665.2015.1075529
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    References listed on IDEAS

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    1. Stanton, Thomas H., 2012. "Why Some Firms Thrive While Others Fail: Governance and Management Lessons from the Crisis," OUP Catalogue, Oxford University Press, number 9780199915996.
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    Cited by:

    1. Herry Linda Anjani & Rosidi Rosidi & M. Achsin, 2020. "How is accountability defined by village government in village fund financial management?," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 9(7), pages 66-74, December.
    2. Sorin Gabriel Anton & Anca Elena Afloarei Nucu, 2020. "Enterprise Risk Management: A Literature Review and Agenda for Future Research," JRFM, MDPI, vol. 13(11), pages 1-22, November.
    3. Margaretha S. N. Mait & Marthinus Mandagi & Abdul Rahman Dilapanga, 2021. "Role of Government Authorities in The Supervision of Internal Fraud Prevention Fund Management in Village," Technium Social Sciences Journal, Technium Science, vol. 21(1), pages 73-84, July.

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