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Hubungan Karakteristik Dewan Komisaris dan Perusahaan Terhadap Pengungkapan Risk Management Committee (RMC) Pada Perusahaan Go Public Indonesia

Jurnal Akuntansi (SNA) 13  – Akuntansi keuangan dan Pasar Modal


This study aims to examine the association between board of commisioner and firm characteristics to the existence of risk management committee (RMC) and type of RMC, whether it is combined or separated from audit committee. The board of commisioner and firm characteristics used in this study are independent commisioner, board size, auditor reputation, complexity, financial reporting risk, leverage, and firm size.

Population consists of Bursa Efek Indonesia (BEI)-listed companies from nonfinancial industry in 2007-2008. Sample was collected based on purposive sampling, and resulted 248 companies as a final sample. Data was collected from the annual report, and was analysed with logistic regression.

The results, based on logistic regression analyses, indicated that firm size has a positive and significant association with the existence of RMC and separated RMC. The other variables (independent commisioner, board size, auditor reputation, complexity, financial reporting risk, leverage) have not significant association with the existence of RMC and separated RMC.

Keywords : Risk management committee, corporate governance, firm characteristics


Increasing number of large companies that have problems such as Enron and WorldCom bankruptcies, as well as the global financial crisis in 2008 became the driving factor for companies pay more attention to the application of risk management systems. In addition to focusing on the risks that threaten its profitability, the company also should consider the risks that threaten its existence. A fast growing company environment also resulted in increasingly complex business risk that must be faced by the company. Various risk profile faced by companies today are different from the risk profile of the previous decades (Beasley, 2007; COSO, 2009).

Technological change, globalization, and development of business transactions such as hedging and derivatives led to the increasing challenges faced by companies in which he had to risk mangelola (Beasley, 2007). Consequently, to face all these challenges, the implementation of formal risk management systems and structured is a must for companies. If implemented effectively, the risk management system can be a force for the implementation of good corporate governance.

Aspect of supervision is an important key for the passage of enterprise risk management system is effective. Board of commissioners play a role in overseeing the implementation of risk management to ensure the company has effective risk management program (Crucible and Orowitz, 2009). To ease the burden of responsibility is so vast, the board may delegate supervisory duties to committee oversight of risk management. The committee is expected to discuss policies and guidelines to regulate the process of enterprise risk management (Crucible and Orowitz, 2009).

Management oversight committee can be as audit committee or another committee that is separate from and independent audit, though the primary responsibility of oversight of risk management remains in the hands of the board of commissioners fully (Subramaniam, et al., 2009). Some companies still control the risk of delegating tasks to the audit committee (Beasley, 2007; Bates and Leclerc, 2009; Crucible and Orowitz, 2009; COSO, 2009). However, the extent of the responsibilities and duties of audit committees are more and more and raises serious doubts about its ability to function effectively (Harrison, 1987; Bates and Leclerc, 2009). The task of risk management supervision requires sufficient understanding of the structure and operation of the overall company and its associated risks, such as product risk, technology risk, credit risk, regulatory risk, etc. (Bates and Leclerc, 2009). ..

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