Management
AN ANALYSIS OF THE EFFECTS OF THE FINANCIAL CRISIS ON ENTERPRISE RISK MANAGEMENT IN THE CANADIAN FINANCIAL SECTOR
The effect of the financial crisis on enterprise risk management (ERM)
disclosures was examined through a content analysis of the 2007 and 2008 annual
reports of Canadian financial corporations listed on the S&P TSX Composite Index.
Fourteen types of risk were tracked and categorized by level of risk exposure, risk
consequence and risk management disclosures. We found very minor changes in the
risk disclosures by Canadian financial corporations listed on the S&P TSX
Composite Index from 2007 to 2008, despite plummeting net incomes (except for real
estate trusts) and market valuations
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