Information systems outsourcing risks are a vital component in the decision and management process associated to the provision of information systems and technology services by a provider to a customer. Although there is a rich literature on information systems outsourcing risks, the accumulated knowledge on this area is fragmented. In view of this situation, an argument is put forward on the usefulness of having a theory that integrates the various constructs related to information systems outsourcing risks. This study aims to contribute towards the synthesis of that theory, by proposing a conceptual scheme for interpreting the literature and presenting a preliminary version of a catalog of information systems outsourcing risks. Proposals for subsequent work towards the generation of the theory of information systems outsourcing risk are suggested.