The study seeks to clarify why donors such as the World Bank still insist on the use of their financial management system rather than the recipient country’s financial management system, despite the intention under the Paris Declaration 2005 to use the respective government’s systems. The study then explores the reasons why the financial management system used by the World Bank is more effective in managing risks related to public financial management and aid as compared to the Government of Malaysia approach. The study compares financial management by the World Bank and Ministry of Education Malaysia, in their parallel implementation of Educational Sector Support Projects (ESSP) under the Eighth Malaysian Plan, 2001-2005. The quality of financial management of projects in two systems is compared using established criteria of good financial management practice. Findings are based on evidence from interviews, documentation and direct observations. The study demonstrates the significant roles in reducing risks played in the World Bank approach by the Project Management Reports (PMR), high quality Project Implementation Unit (PIU) staff and better procurement procedures.
There is need to understand the sources of public expenditure growth and the quality of public expenditures, to determine whether they directly contribute to economic growth. This book is a doctoral thesis that investigates the causal relationship between aggregate public expenditure and its compositions on economic growth for the Nigeria case over the period of 1979-2008. The book makes significant controbitions for fiscal and public financial management reforms, particlarly for developing and emerging economies that are designing their public expenditure management framework. This is recommended for Public finance policy makers, the executive and legislative organs of government, researchers, academics, and students of public financial management.
The turmoil caused by problems in the American mortgage market has served as an important reminder of the interdependency of global financial institutions. This book presents a survey of the fundamental issues surrounding risk management and shows how central banks and other public investors can create better risk management systems.
Arising from the financial and corporate crashes from the 20th to the 21st century were several issues involving the accounting profession that eventually led to a few major changes in the accounting world. The collapses of these high profile companies were so great that they eventually caused unbearably financial losses to the stakeholders. Following the incidents, regulatory agencies around the world have started to focus on strengthening their measures to prevent more corporate collapse due to mismanagement on the Enron scale. Thus, risk management is becoming a high priority for large companies especially those operating in various countries. ERM is a concept of providing a principle based approach to risk management on aa company wide basis. It is a top-down integrated and comprehensive process for determining, evaluating, assessing, controlling, and monitoring all manner of risks faced by corporations. Nonetheless, the important issue worth investigating is whether the ERM could really improve shareholders’ wealth? and whether the internal auditors are able to perform their task in the ERM as proposed by the IIA Position Paper?
The book examines the factors associated with the level of adoption of Enterprise Risk Management (ERM) among public listed companies in Malaysia. The main aim of this particular study is to examine the relationship between the quality of Chief Risk Officer (CRO) and the quality of Board of Directors (BOD) with regard to the level of ERM adoption within the companies involved. The Internal Audit Support factor is also examined and the quality of Internal Audit Support (IAS) is a moderating factor in the research framework. This book will be able to shed some insights into the ERM activities of multinationals from a developing country’s perspective by identifying the level of stages that Malaysian public listed companies are adopting ERM.
A Knowledge Management System is an integrated multifunctional software framework that supports all main knowledge management and knowledge processing activities, such as capturing, organising, classifying, understanding, debugging, editing, finding, retrieving, disseminating, transferring and sharing knowledge. This book provides an ontology based knowledge management solution for Software Risk Management (SRM). In this book, the knowledge of Software Risk Management is visualized through SRM Ontology (SRMONTO). Emphasizing the profound importance of risk management in the IT industry, an e-learning tool to educate potential software engineers is described in this book. An ontology based web service described in this book is used to analyze a project, product or service based on the factors, relationships and constraints that constitute the respective project, product or service. Its main goal is to provide project analysts with a web service, to aid them in identifying and assessing the risks involved in the project, allowing them to plan for avoiding risks, and controlling and monitoring risk. The targeted audience for this book is students and software engineers.
Public Procurement policies affect all public institutions and the private sector players to ensure value for money, achievement of Government objectives, transparency,accountability and judicious use of funds in procuring goods,works and services.In most developing countries, promulgation of public procurement laws is one of the strategies to curb corruption emanating from project finance. Procurement management involves a systematic but continuous process that ensures the acquisition of quality materials and or services to undertake efficient production to remain competitive. Public procurement in Ghana focuses on accountability, transparency and ethics and above all value for money in the operation, management and reporting of procurement and asset disposal. All Public Servants are to consistently apply these policies and procedures, together with professional judgment and good management.Effective public procurement of goods should involve some kind of risk management, although it may not necessarily mean that a formal risk management structure is set up. Technological, financial, political and organisational change are examples of procurement risks.
This book provide insights on risk management in education. It gives a practical and theoretical sides of risk management in education. Strategic planning, time management and decision making, applicability of risk management in education and importance in education management is discussed. In addition, this book underlines the importance of risk management in schools by comparing developed and developing countries.
Green Supply Chain Management (GSCM) is a kind of sustainable strategic development for enterprises in today’s competitive workplace, which has emerged as a new innovative approach, to achieve both financial and environmental benefits simultaneously by reducing environmental risk and impact. This book considers the factors contributing to Green Supply Chain Management adoption consists of Environmental Regulation, Environmental Management System (EMS) adoption, External Stakeholders’ pressure, Internal Strategic Motivations
Management Innovation in U.S. Public Water and Wastewater Systems
The economic success of any country can be brought by the efficient and effective public financial management system that can not be exposed to corruption and embezzlement. With this view most developing countries have been changed their financial management system in a way that can solve the problem of their citizens, by focusing in the priority sectors as response to inadequate and outdated public financial management system that can not adequately allocate a resources in priority sectors and manual system to Integrated Financial Management systems is mainly the recommendation of the international institutions and the donor governments. Countries such as Ethiopia, Estonia and Tanzania have done a reform in the financial management system especially Public Expenditure Management. In this book, I go through the countries financial management system and present by comparing and contrasting External Auditing and Corruption Management of the respective countries in relation to their success and failure pointing out good practices of the countries.
Book DescriptionIn this volume the methodological aspects of the scenario logic and probabilistic (LP) non-success risk management are considered. The theoretical bases of scenario non-success risk LP-management in business and engineering are also stated. Methods and algorithms for the scenario risk LP-management in problems of classification, investment and effectiveness are described. Risk LP- models and results of numerical investigations for credit risks, risk of frauds, security portfolio risk, risk of quality, accuracy, and risk in multi-stage systems reliability are given. In addition, a rather large number of new problems of estimation, analysis and management of risk are considered. Software for risk problems based on LP-methods, LP-theory, andGIE is described too.
Peat swamp forest (PSF) is the largest forested wetland type in Southeast Asia. PSF is a unique ecosystem globally that is highly threatened by logging, conversion to agriculture and aquaculture, and urban development. Among others, tree diversity and responses to Reduced Impact Logging (RIL) management of PSF in Peninsular Malaysia were investigated. PSF is also known as a great carbon storage.
The book introduces some recent developements for the stock-bond market interactions and risk management. Three chapters involve both case study and international investigations. The results provide major new insights and tend to circumvent the gaps of such nexus. Innovative approaches are considered to extract the main results. In doing so, advanced wavelet method, copulas and risk management measures are applied.
Accountability involves control and answerability, often relating to sanctions having personal consequences, and aimes at righting wrongdoings. In fact, the school sector's expenditure is most vulnerable in terms of fiduciary risk. The main problem also lies in the lack of in-depth study to address the problem and as to how people perceive the financial accountability of head teacher in the public school. The main purpose of the study was to analyze the situation of financial accountability of head teacher in schools, more especially to attempt to find the gap between the parameters of the financial accountability and financial practice of the school. It has been started with research philosophy with ontological and epistemological parts of the research. It has focused on perception of head teacher on financial accountability and knowledge about public financial management components. Financial accountability is the basic and primary responsibility of an authority for the sound PFM of national development. The book is targeted to the decision makers in policy level, head teachers, teachers and people who oversight in the public expenditure.