Effectiveness of risk management systems on financial performance in a public setting
The purpose of this study was to evaluate the effectiveness of risk management systems on financial performance in a Public Sector Setting. The study was triggered by the financial turmoil which had been experienced in a developing country by some institutions from 2014- 2016 as a result of fraud ri...
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| Format: | Article |
| Language: | English |
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Allied Business Academies
2021
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| Online Access: | https://www.abacademies.org/articles/Effectiveness-of-Risk-Management-Systems-on-Financial-Performance-in-a-Public-Setting-1528-2635-22-4-270.pdf http://hdl.handle.net/11408/4474 |
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| author | Wadesango, Newman Mhaka, Charity Shava, Faith |
| author_facet | Wadesango, Newman Mhaka, Charity Shava, Faith |
| author_sort | Wadesango, Newman |
| collection | DSpace |
| description | The purpose of this study was to evaluate the effectiveness of risk management systems on financial performance in a Public Sector Setting. The study was triggered by the financial turmoil which had been experienced in a developing country by some institutions from 2014- 2016 as a result of fraud risks. This situation also resulted in poor service delivery. A quantitative research approach was employed in the study. Target population constituted 65 participants and a sample size of 50 respondents drawn from the ministry’s departments in
Harare region. Data was collected using a questionnaire. Analysis of data was done using percentages and mode and results were presented in tables, graphs and charts. The researchers established that effectiveness of risk management (RM) system in the ministry was negatively affected by major challenges such as lack of trained personnel that resulted in knowledge gap to adopt a formal system, non-existence of audit committee and lack of management commitment
and coordination. Engaging the Auditor General to act as a RM consultant and provide training services may abridge the existing knowledge gap. |
| format | Article |
| id | ir-11408-4474 |
| institution | My University |
| language | English |
| publishDate | 2021 |
| publisher | Allied Business Academies |
| record_format | dspace |
| spelling | ir-11408-44742022-06-27T13:49:06Z Effectiveness of risk management systems on financial performance in a public setting Wadesango, Newman Mhaka, Charity Shava, Faith Risk Managemen Financial Performance Public Sector Auditor General Audit The purpose of this study was to evaluate the effectiveness of risk management systems on financial performance in a Public Sector Setting. The study was triggered by the financial turmoil which had been experienced in a developing country by some institutions from 2014- 2016 as a result of fraud risks. This situation also resulted in poor service delivery. A quantitative research approach was employed in the study. Target population constituted 65 participants and a sample size of 50 respondents drawn from the ministry’s departments in Harare region. Data was collected using a questionnaire. Analysis of data was done using percentages and mode and results were presented in tables, graphs and charts. The researchers established that effectiveness of risk management (RM) system in the ministry was negatively affected by major challenges such as lack of trained personnel that resulted in knowledge gap to adopt a formal system, non-existence of audit committee and lack of management commitment and coordination. Engaging the Auditor General to act as a RM consultant and provide training services may abridge the existing knowledge gap. 2021-06-11T11:58:48Z 2021-06-11T11:58:48Z 2018 Article 1096-3685 https://www.abacademies.org/articles/Effectiveness-of-Risk-Management-Systems-on-Financial-Performance-in-a-Public-Setting-1528-2635-22-4-270.pdf http://hdl.handle.net/11408/4474 en Academy of Accounting and Financial Studies Journal;Vol.22 ; Iss.4 open Allied Business Academies |
| spellingShingle | Risk Managemen Financial Performance Public Sector Auditor General Audit Wadesango, Newman Mhaka, Charity Shava, Faith Effectiveness of risk management systems on financial performance in a public setting |
| title | Effectiveness of risk management systems on financial performance in a public setting |
| title_full | Effectiveness of risk management systems on financial performance in a public setting |
| title_fullStr | Effectiveness of risk management systems on financial performance in a public setting |
| title_full_unstemmed | Effectiveness of risk management systems on financial performance in a public setting |
| title_short | Effectiveness of risk management systems on financial performance in a public setting |
| title_sort | effectiveness of risk management systems on financial performance in a public setting |
| topic | Risk Managemen Financial Performance Public Sector Auditor General Audit |
| url | https://www.abacademies.org/articles/Effectiveness-of-Risk-Management-Systems-on-Financial-Performance-in-a-Public-Setting-1528-2635-22-4-270.pdf http://hdl.handle.net/11408/4474 |
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