Risk jobs ''could become more important''

Many firms are currently under-using their risk management staff, according to one expert.

David Knowles claims in an article for Accountancy Age that "significant" untapped revenue streams are failing to be exploited through a lack of staff in risk jobs providing consultancy services.

He believes firms should offer their clients risk management services that focus on active financial management as well as incorporating more typical historic data analysis.

Mr Knowles claimed risk jobs could become more important as external accountants are still mainly employed to go over historic data, while also mitigating tax liabilities and ascertaining what monies are owed to HM Revenue & Customs.

"Debt management and identification of risk in many firms is still related to their own experience of an individual customer's payment record," he said.

His comments come after an Industry Week article from earlier this month claimed the economic crash of 2008 was due "in large" to ineffective risk management.