Introduction

Risk reporting entails all the activities involved in effort to distribute information concerning risks to all parties related to an organisation. Telecommunication industry is one of the major institutions that undertake many risks. These risks undertaken are reported to both external and internal stakeholders of the industry. There are several sources of risks in these institutions, at the same time, various techniques on curbing them.

Risk arises when a decision is made based on uncertainty about the future. In United Kingdom there are many firms in the telecommunication industry, due to presence of these firms, the competition is very high. There is a dynamic growth in the improvement of industry to counter the current competition in the industry. This has led to firms making very risky decisions in their bid to outdo each other in the claim for a greater market share. As economically spelt, that the higher the risk the higher the returns, firms in telecommunication industry in the United Kingdom have invested a lot on funds so as to cope with the dynamism in the industry. Risk reporting entails all the matters related to distribution of the risks among the stakeholders to the industry, therefore firms in telecommunication industry in United Kingdom have developed clear ways of articulating information to their shareholders and other stakeholders to the industry (Anderson, 2009, p 116).

This essay discusses further about risk reporting practices in the telecommunication industry in the United Kingdom, Analysis of sources of risks and features of a good risk reporting techniques.