Work in progress?: How the credit crunch has its roots in the lack of integrated governance and control systems

Purpose – This paper aims to focus on recent developments within the financial markets. Design/methodology/approach – The approach is that of critical commentary on the present situation. Findings – Current market dynamics reinforce the fact that there are few greater issues for financial institutions than governance and control systems. Originality/value – The paper shows that financial institutions are still seeking to find the correct balance between risk and reward among the forces of financial innovation.