scholarly journals Key Mechanisms of Risk Management in South Africa’s National Government Departments: The Public Sector Risk Management Framework and the King III Benchmark

2016 ◽  
Vol 14 (2-3) ◽  
Author(s):  
Tankiso Moloi
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
Data Extraction ◽  
Risk Process ◽  
National Government ◽  
Annual Reports ◽  
Risk Governance ◽  
Risk Disclosure ◽  
Poor Risk ◽  
Management Disclosures

Government provides essential services to the population and therefore, uncertainties that could hinder government’s objectives should be identified, mitigated/controlled and monitored. Using the content analysis for data extraction in the annual reports of national government departments (NGDs), this paper explored risk management practices in South Africa’s public service, with national government departments as a case in point. The findings are that in general, there are poor risk management practices in the NGDs as the majority of the observed categories were not disclosed in the NGDs annual reports.Since risk deals with the uncertainties on the objectives, it is concerning that NGDs have poor risk management practices, particularly because they are enablers (implementers) of government overarching strategy. As enablers of government strategy, it is recommended that NGDs view risk management as a process that enables them to identify threats which could hinder the attainment of their objectives, whilst also leveraging opportunities that may arise. It is further recommended that the risk process is viewed as a scenario or option analysis exercise that allows NGDs to properly plan, understand the intended outcomes and prepare responses to deal with any uncertainties. A summarised and harmonized risk governance requirement used for the purpose of exploring risk management disclosures has been suggested by this study and it could be used as a reference point of risk disclosure improvement by NGDs.

scholarly journals Governance of risks in South Africa’s public higher education institutions (HEIs)

2016 ◽  
Vol 13 (2) ◽  
pp. 226-234 ◽  
Author(s):  
Tankiso Moloi
Keyword(s):  
Higher Education ◽  
South Africa ◽  
Risk Management ◽  
Management Practices ◽  
Higher Education Institutions ◽  
Relevant Literature ◽  
Strategic Decision ◽  
Annual Reports ◽  
Risk Governance ◽  
Risk Disclosure

The author examines the manner in which risk is governed within higher education institutions (HEIs) in South Africa by formulating risk governance statements based on the requirements of the King III Report on Corporate Governance and other relevant literature. The formulated risk governance statements are used to develop the risk disclosure measurement index. Disclosure measurement method is accepted as a flexible method to use when extracting the pre-determined information in the annual reports. The developed risk disclosure index is used to extract the information from South Africa’s higher education institutions’ annual reports. The information disclosed in these annual reports is deemed a proxy of risk management practices within the higher education institution concerned. The results obtained indicate that South Africa’s higher education institutions have not embraced risk management as a key process in their activities. This is apparent in the assessed annual reports as compliance with the pre-determined set of statements was around 50%. For those that have not demonstrated these practices, it is stated that the concern is around the manner in which their highest decision makers make decisions, as it appears that risks may not necessarily be taken into account. As higher education institutions in South Africa continues to face challenges and they would possible be revising their strategies to take into account the recent events, every strategic decision being undertaken should be accompanied by a proper risk assessment to identify potential pitfalls (threats) and/or take advantage to achieve results promptly (opportunities)

scholarly journals Risk Management Practices by South African Universities: An Annual Report Disclosure Analysis

2021 ◽  
Vol 14 (5) ◽  
pp. 195
Author(s):  
Inga Sityata ◽  
Lise Botha ◽  
Job Dubihlela
Keyword(s):  
Risk Management ◽  
South African ◽  
Management Practices ◽  
Qualitative Content Analysis ◽  
Annual Reports ◽  
Risk Governance ◽  
Exploratory Research ◽  
Risk Disclosure ◽  
South African Universities ◽  
The Impact

This paper assesses risk management practices at South African universities by analyzing the extent of risk management disclosure recommended by King IV and the level of risk governance maturity. This study was motivated by #Feesmustfall disruptions, which pointed to the lack of effective risk management, preparedness for volatility and increased scrutiny by stakeholders. A qualitative content analysis using a risk disclosure checklist was conducted on 18 annual reports and analyzed using an exploratory research design. The results revealed that over 80% of the sampled South African universities have disclosed most of their risk management practices, showing an improved disclosure due to King IV’s “apply and explain” philosophy as introduced in 2016. However, there were areas of improvement identified, such as: defining and approval of risk appetites and tolerance; development and implementation of business continuity plans; confirming the unpreparedness for volatility; annual revision of policies; and integration of risk management into the culture and daily activities of the university. This paper builds upon previous studies that highlighted a lack of detailed disclosures in South African organizations’ annual reports. This study also provides interesting insights into the impact of social events on organizational practices and supports the notion that legislative accounting practices should echo stakeholders and societal expectations.

scholarly journals Firm Characteristics And Enterprise Risk Management Disclosures: Evidence From State-Owned Enterprise In Indonesia

2021 ◽  
Vol 9 (8) ◽  
pp. 136-144
Author(s):  
Hudi Kurniawanto
Keyword(s):  
Risk Management ◽  
Regression Analysis ◽  
Stock Exchange ◽  
Total Sample ◽  
Enterprise Risk Management ◽  
Annual Reports ◽  
Firm Characteristics ◽  
Risk Disclosure ◽  
Enterprise Risk ◽  
Management Disclosures

The purpose of this study is to examine the effect of firm characteristics on enterprise risk management disclosure. The object of research is State-Owned Enterprises listed on the Indonesia Stock Exchange in 2019-2020, a total sample of 40 annual reports using purposive sampling and multiple regression analysis. The results of this study prove that firm size and leverage do not affect enterprise risk management disclosure, while profitability affects enterprise risk management disclosure. The greater the profitability generated by the company, the wider the risk disclosure will be made to show stakeholders that State-Owned Enterprises in Indonesia can use capital efficiently.

Distress Analysis and Risk Score of Hotels

2020 ◽  
Vol 9 (3) ◽  
pp. 1-14
Author(s):  
Vilas G. Waikar ◽  
Sigfred Fernandes
Keyword(s):  
Risk Management ◽  
Risk Score ◽  
Management Practices ◽  
Annual Reports ◽  
Risk Scores ◽  
Z Score ◽  
Risk Disclosure ◽  
High Volatility ◽  
Z Scores ◽  
Risk Disclosures

This article is first study of a service firm's risk/risk management score and Zeta function, particularly . analysis how risk disclosure and financial performance varies longitudinally. Using mix methodology, research uses Z score-discriminant function Z_I= ∑_(i=1)^n〖β_i X_i 〗 Z, X -specific to hotel industry and the risk scores, extracted from analysis of formal disclosures from annual reports . This article identifies that risk and risk management practices differ across hotel formats. The analysis of Z scores and risk disclosures reveals the association between these variables. The international hotels in comparison to national and local hotels are more distressed and hence have high risk scores confirming awareness of strength of this relation. Local standalone hotels are exhibiting high volatility and exhibit low risk score. This unique relationship between z score and risk disclosures will prove to have sustained relevance to risk academicians and practitioners.

Risk disclosure and risk governance characteristics: evidence from a developing economy

2020 ◽  
Vol 28 (4) ◽  
pp. 577-605 ◽  
Author(s):  
Shamsun Nahar ◽  
Mohammad Istiaq Azim ◽  
Md Moazzem Hossain
Keyword(s):  
Risk Management ◽  
Developed Countries ◽  
Business Environment ◽  
International Standards ◽  
Risk Governance ◽  
Developing Economy ◽  
Risk Disclosure ◽  
Content Type ◽  
Governance Practices ◽  
The Impact

Purpose The purpose of this paper is to explore to what extent risk disclosure is associated with banks’ governance characteristics. The research also focuses on how the business environment and culture may create a bank’s awareness of risk management and its disclosure. This study is conducted in a setting where banks are not mandated to follow international standards for their risk disclosures. Design/methodology/approach Using 300 bank-year observations comprising hand-collected private commercial bank data, the study uses regression analysis to investigate the influence of risk governance characteristics on risk disclosure. Findings This paper reports a positive relationship between risk disclosure and banks’ governance characteristics, such as the presence of various risk committees and a risk management unit. Practical implications Because studies are lacking on risk disclosure and risk governance conducted in developing countries, it is expected that this research will make a significant contribution to the literature and provide a foundation for further research in this field. Social implications This study complements the corporate governance literature, more specifically the risk governance literature, by incorporating agency theory, institutional theory and proprietary cost theory to provide robust evidence of the impact of risk governance practices in the context of a developing economy. Originality/value Previous studies on risk disclosure and governance determinants primarily involve developed countries. This paper’s contribution is to examine risk disclosure and risk governance characteristics in a developing country in which reporting according to international standards is effectively voluntary.

scholarly journals Biobanking and risk assessment: a comprehensive typology of risks for an adaptive risk governance

2021 ◽  
Vol 17 (1) ◽  
Author(s):  
Kaya Akyüz ◽  
Gauthier Chassang ◽  
Melanie Goisauf ◽  
Łukasz Kozera ◽  
Signe Mezinska ◽  
...  
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Management Practices ◽  
Good Governance ◽  
Daily Practice ◽  
Risk Governance ◽  
Institutional Research ◽  
Conceptual Approach ◽  
Related Data ◽  
Institutional Actors

AbstractBiobanks act as the custodians for the access to and  responsible use of human biological samples and related data that have been generously donated by individuals to serve the public interest and scientific advances in the health research realm. Risk assessment has become a daily practice for biobanks and has been discussed from different perspectives. This paper aims to provide a literature review on risk assessment in order to put together a comprehensive typology of diverse risks biobanks could potentially face. Methodologically set as a typology, the conceptual approach used in this paper is based on the interdisciplinary analysis of scientific literature, the relevant ethical and legal instruments and practices in biobanking to identify how risks are assessed, considered and mitigated. Through an interdisciplinary mapping exercise, we have produced a typology of potential risks in biobanking, taking into consideration the perspectives of different stakeholders, such as institutional actors and publics, including participants and representative organizations. With this approach, we have identified the following risk types: economic, infrastructural, institutional, research community risks and participant’s risks. The paper concludes by highlighting the necessity of an adaptive risk governance as an integral part of good governance in biobanking. In this regard, it contributes to sustainability in biobanking by assisting in the design of relevant risk management practices, where they are not already in place or require an update. The typology is intended to be useful from the early stages of establishing such a complex and multileveled biomedical infrastructure as well as to provide a catalogue of risks for improving the risk management practices already in place.

scholarly journals Editorial note

2018 ◽  
Vol 8 (2) ◽  
pp. 4-5
Author(s):  
Elizaveta Kravchenko
Keyword(s):  
Risk Management ◽  
Financial Markets ◽  
Low Income ◽  
Management Practices ◽  
Audit Fees ◽  
Risk Measurement ◽  
Editorial Note ◽  
Risk Governance ◽  
Recent Issue ◽  
And Control

The recent issue of the journal Risk Governance and Control: Financial Markets & Institutions is devoted to the issues of risk measurement, microinsurance, low-income markets, risk management practices, audit fees, etc.

Investigation of risk management and risk disclosure practices of Italian listed local utilities

2013 ◽  
pp. 121-167 ◽  
Author(s):  
Selena Aureli ◽  
Federica Salvatori
Keyword(s):  
Risk Management ◽  
Qualitative Methodology ◽  
Management Practices ◽  
Service Providers ◽  
Document Analysis ◽  
Risk Exposure ◽  
Risk Disclosure ◽  
Utility Companies ◽  
Utility Services

Local utility services deeply affect the overall quality of life of a country's population. For this reason service providers should pay strong attention to risk management practices, but also to the external communication of both the risk exposure and the risk responses. Following a qualitative methodology, this paper aims at exploring the risk management and risk disclosure practices of five Italian listed local utility companies combining two research methods: questionnaire and document analysis. Results show that these Italian listed local utilities are characterized by different maturity levels of risk management practices, which are not extensively disclosed in public reports and documents. Interestingly, the link between the level of disclosure and maturity of risk management practices is confirmed just for those companies that seem to be the most mature in terms of risk management.

scholarly journals Risk Disclosure and Performance of Malaysian Construction Public Listed Companies

2019 ◽  
Vol 266 ◽  
pp. 03012
Author(s):  
Wong Ching Ching ◽  
Ali M. Alashwal ◽  
Faizul Azli Mohd Rahim
Keyword(s):  
Risk Management ◽  
Internal Control ◽  
Listed Companies ◽  
Regulatory Compliance ◽  
Annual Reports ◽  
Risk Disclosure ◽  
Corporate Code ◽  
Management Framework ◽  
Risk Management Framework ◽  
Increased Risk

Due to regulatory reforms, corporate governance has evolved with Enterprise Risk Management become prominence since the 1990s. In Malaysia, Statement of Risk Management and Internal Control with Malaysian Corporate Code of Governance are regulatory compliance on risk management for the Public Listed Companies. Companies are required to make risk disclosures in their annual report based on Risk Management Framework, which indirectly provided insights for shareholders and investors to assess the company’s performance. This study aims to determine the extent of risk implementation based on Risk Management Framework and the effect on construction Public Listed Companies performance. The sample of this study consists of 227 construction Public Listed Companies in Malaysia Bourse from 2011, 2014, 2015, 2016 and 2017. Content analysis is conducted on the company’s annual reports for the five years based on Risk Management Framework components and financial ratios. The study revealed the presence of both guidelines had increased risk disclosure among construction Public Listed Companies but there was no significant improvement in their financial performance.

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