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Professor Margaret Woods

Accounting Group 

Margaret Woods

I joined Aston business School in May 2010 having previously held the position of Associate Professor in Accounting and Finance at Nottingham University Business School. During my career I have worked in both academia and industry and I am a great believer in trying to ensure that my teaching and research both makes use of and also helps to influence accounting and business practices.

I am the co-ordinator of the European Risk Research Forum which has members from across the world, and my research focuses on risk and performance management in both the public and private sectors.

I am also involved in research with Japanese Universities comparing the resource allocation models and management accounting systems in Japan and the UK.

In 2011 I was awarded fellowship of the RSA in recognition of my work in the area of financial services.

Position: Professor of Accounting and Risk Management
Email: m.woods@aston.ac.uk
Phone: +44(0) 121 204 5282
Room: ABS403

My research on bank risk and related issues has generated media interest, and I have undertaken both local and national radio and television interviews on these subjects. In 2009 I was interviewed for an Australian Broadcasting Corporation documentary on “Zombie Banks”.

In 2008 I was Visiting Professor at the Centre for University Finance and Management in Tokyo, and I have also held visiting positions at Luneberg University (Germany) and Pace University (New York).

My teaching experience encompasses strategic management accounting, financial analysis and financial risk management at both undergraduate and postgraduate levels. I also have extensive experience of teaching on executive development and training courses in accounting and finance.

I am currently teaching Managment Accounting at postgraduate level to both MSc and MBA students.  In recent years I have taught a number of  different undergraduate and postgraduate modules including: Financial Analysis; Advanced Management Accounting; Auditing Governance & Scandals; Accounting Theory & Practice; Financial Reporting; Performance Management ; Management of Fraud Risk and Risk Management in Financial Services.

  • Management, measurement and reporting of bank risk
  • Auditing in financial services, especially in relation to fair value and risk disclosures
  • Risk and performance management in UK local government
  • Comparison of risk management in the public and private sectors
  • Accounting for pension liabilities
  • Resource allocation models in the HE sector

On SSRN I am now in the top 4% of authors and over 2000 copies of my papers have been downloaded. View my research on my SSRN author page.

Three of my research papers (see below) are listed in the Science Direct Top 25 ' hottest articles' listings for Management Accounting Research and Accounting Organizations and Society, respectively.

Margaret Woods, Lynda Taylor, Gloria Cheng Ge Fang, (2012)  “Electronics: A case study of economic value added in target costing.” Management Accounting Research, Volume 23, Issue 4, Pages 261-277.

Woods, M. (2009), “A Contingency Theory Perspective on the Risk Management Control System within Birmingham City Council” Management Accounting Research, Vol.20, Issue 1, pp.69-81.

Humphrey, C., Loft. A & Woods, M. (2009), “The global audit profession and the international financial architecture: Understanding regulatory relationships at a time of financial crisis”, Accounting Organizations and Society, Vol.34, Issues 6-7, pp.810-825.

  • ICAS ( April 2010): £8,000
    With C. O’Brien and M. Billings ( Nottingham University)  to investigate the nature and extent of  reporting of pension risk.
  • European Union  (2007-2010) Marie Curie Programme ( Events): €280,000
    With Professor Peter Kajuter ( Munster University, Germany) and Professor Sergio Beretta ( Bocconi University, Italy) to establish the European Risk Research Network (ERRN) and organise a series of related conferences.
  • CIMA    (2003 – 2010): £8,700
    Individual grant for case study research into risk management systems in major UK organisations.
  • British Accounting Association ( Public Sector Special Interest Group) (2007 – ongoing): £4,000
    With Suzana Grubnic ( Nottingham University) for research into the impact of Comprehensive Performance Assessment upon performance management systems within English local authorities.
I am currently supervising 3 PhD students. One is looking at the relationship between Internal Audit, Risk Management and Corporate Reputation, a second is investigating the quality of government audit practice, and the other is researching the development of systems for the monitoring of Shariah compliance in Islamic banks.

Academic Journals

Margaret Woods, Lynda Taylor, Gloria Cheng Ge Fang, (2012)  “Electronics: A case study of economic value added in target costing.” Management Accounting Research, Volume 23, Issue 4, Pages 261-277.

Woods, M. (2011). A commentary on 'contextualising the intermediate financial accounting courses in the global financial crisis. Accounting Education: An International Journal, Vol. 20, No. 5, 525–528.

Humphrey, C., Kausar, A., Loft, A., Woods, M. (2011). Regulating audit beyond the crisis: A critical discussion of the EU green paper. European Accounting Review, 20(3), 431-457.

Humphrey, C., Loft. A & Woods, M. (2009), “The global audit profession and the international financial architecture: Understanding regulatory relationships at a time of financial crisis”, Accounting Organizations and Society, Vol.34, Issues 6-7, pp.810-825

Woods, M. Humphrey, C., Dowd, K, (2009) “Market Risk Reporting by the world’s top banks: Evidence on the diversity of reporting practice and the implications for international accounting harmonisation.” Revista de Contabilidad -Spanish Accounting Review, Vol.11, issue 2, pp.9-42.

Woods, M. Humphrey, C., Dowd, K, & Yu-Lin, L., (2009) “Crunch time for bank audits? Questions of practice and scope for dialogue”, Managerial Auditing, Vol.24, Issue 2, pp.114-134.

Woods, M. (2009), “A Contingency Theory Perspective on the Risk Management Control System within Birmingham City Council” Management Accounting Research, Vol.20, Issue 1, pp.69-81.

Dowd, K.; Cotter, J.; Humphrey, C.; Woods, M. (2008), “How unlucky is 25 sigma?” Journal of Portfolio Management, Vol. 34, Number 4, Summer 2008, pp.76-80.

Woods, M.; Grubnic, S. (2008), “Linking Comprehensive Performance Assessment to the Balanced Scorecard: Evidence from Hertfordshire County Council” Finance Accountability and Management, Vol.24, Issue 3 (August 2008), pp.343-361.

Woods, M.; Dowd, K.; Humphrey, C. (2008), “The Value of Risk Reporting: A Critical Analysis of Value-at-Risk Disclosures in the Banking Sector” International Journal of Financial Services Management, Vol. 8 (1), pp. 45-64.

Woods, M. (2008), “The history, theory and practice of resource allocation models in UK universities” The Journal of Finance and Management in Colleges and Universities, Vol. 5, June, pp.139-155.

Woods, M. (2007), “Linking risk management to strategic controls: A Case Study of Tesco plc” International Journal of Risk Assessment and Management, Vol. 7 (8), pp. 1074-1088.


Professional/Practitioner Publications

Humphrey, C.; Woods, M.; Dowd, K. (2009). "See and be seen ", Financial Services Focus, pp.8-12. ICAEW, London, June.

Humphrey, C.; Woods, M.; Dowd, K. (2009). "Greater visibility", Financial Services Focus, ICAEW, London, July/August.

Woods, M. (2009) “What US basketball can teach bankers (and the rest of us) about performance related pay structures and risk”, Excellence in Leadership, (Special issue on risk) pp.48-51. CIMA, London.

Woods, M. & Dowd, K. (2009), “Financial Risk Management for Management Accountants”. Society of Management Accountants Canada, American Institute of Certified Public Accountants and Chartered Institute of Management Accountants.

Dowd, K. & Woods, M. (2009) “Pensions Risk”, Financial Management (February), pp.45-47

Woods, M. (2007), “All in the Performance” Excellence in Leadership, Strategic Risk Management, Vol. 2, pp. 32-35. CIMA, London.

Books

Woods, M. (2011) Risk Management in Organizations:An Integrated Case Study Approach. Routledge, London.

Woods, M.; Kajuter, P.; Linsley, P. (2007), (eds) International Risk Management Systems, Internal Control and Corporate Governance, Oxford, Elsevier.

Woods, M. (2001), International Business, Macmillan Business, London.

Research Monographs

  • 2010 “Pension Risk Disclosures by FTSE 100 Companies” Christopher O’Brien, Margaret Woods & Mark Billings. Institute of Chartered Accountants of Scotland
  • 2010 “ Reporting & Managing Risk: A look at current practice at Tesco, RBS, local and central government”, M.Woods. CIMA & AIRMIC.

Business and Professional Links 

  • Fellow of Chartered Institute of Certified Accountants
  • Member of the Committee of the Management Accounting Section of the American Accounting Association.
  • Member of the ICAEW’s Audit Quality Forum.
  • Member of research review panels for CIMA.
  • I continue to conduct research with staff colleagues from the University of Tokyo and Tohoku University in Japan.

Employable Graduates; Exploitable Research