Key Mechanisms of Risk Management in South Africa’s National Government Departments: The Public Sector Risk Management Framework and the King III Benchmark
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), t...
Saved in:
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
University of Ljubljana Press (Založba Univerze v Ljubljani)
2016-06-01
|
| Series: | Central European Public Administration Review |
| Subjects: | |
| Online Access: | https://journals.uni-lj.si/CEPAR/article/view/20453 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1832591549169401856 |
|---|---|
| author | Tankiso Moloi |
| author_facet | Tankiso Moloi |
| author_sort | Tankiso Moloi |
| collection | DOAJ |
| description |
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.
|
| format | Article |
| id | doaj-art-d58bfc22f185434eaf7ab991c89027da |
| institution | Kabale University |
| issn | 2591-2240 2591-2259 |
| language | English |
| publishDate | 2016-06-01 |
| publisher | University of Ljubljana Press (Založba Univerze v Ljubljani) |
| record_format | Article |
| series | Central European Public Administration Review |
| spelling | doaj-art-d58bfc22f185434eaf7ab991c89027da2025-01-22T10:51:53ZengUniversity of Ljubljana Press (Založba Univerze v Ljubljani)Central European Public Administration Review2591-22402591-22592016-06-01142-310.17573/ipar.2016.2-3.02Key Mechanisms of Risk Management in South Africa’s National Government Departments: The Public Sector Risk Management Framework and the King III BenchmarkTankiso Moloi0University of Johannesburg, Department of Accountancy, Johannesburg 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. https://journals.uni-lj.si/CEPAR/article/view/20453risk managementrisk disclosuresannual reportsnational government departments |
| spellingShingle | Tankiso Moloi Key Mechanisms of Risk Management in South Africa’s National Government Departments: The Public Sector Risk Management Framework and the King III Benchmark Central European Public Administration Review risk management risk disclosures annual reports national government departments |
| title | Key Mechanisms of Risk Management in South Africa’s National Government Departments: The Public Sector Risk Management Framework and the King III Benchmark |
| title_full | Key Mechanisms of Risk Management in South Africa’s National Government Departments: The Public Sector Risk Management Framework and the King III Benchmark |
| title_fullStr | Key Mechanisms of Risk Management in South Africa’s National Government Departments: The Public Sector Risk Management Framework and the King III Benchmark |
| title_full_unstemmed | Key Mechanisms of Risk Management in South Africa’s National Government Departments: The Public Sector Risk Management Framework and the King III Benchmark |
| title_short | Key Mechanisms of Risk Management in South Africa’s National Government Departments: The Public Sector Risk Management Framework and the King III Benchmark |
| title_sort | key mechanisms of risk management in south africa s national government departments the public sector risk management framework and the king iii benchmark |
| topic | risk management risk disclosures annual reports national government departments |
| url | https://journals.uni-lj.si/CEPAR/article/view/20453 |
| work_keys_str_mv | AT tankisomoloi keymechanismsofriskmanagementinsouthafricasnationalgovernmentdepartmentsthepublicsectorriskmanagementframeworkandthekingiiibenchmark |