Title: Assessment of risk management practices in the public sector of Malaysia

Authors: Jamaliah Said; Md. Mahmudul Alam; Razana Juhaida Johari

Addresses: Accounting Research Institute, Universiti Teknologi MARA, Shah Alam, Malaysia ' School of Economics, Finance and Banking, Universiti Utara Malaysia, Malaysia ' Faculty of Accountancy, Universiti Teknologi MARA, Shah Alam, Malaysia

Abstract: Public sectors around the world, especially in the developing counties, are not functioning well due to widespread fraud, governance, corruption, and inefficacy. For this reason, the world's public sectors need to improve their efficacy by using a sound risk management system. This study attempts to comprehend the phenomenon of current risk management practices among the public sector employees in different service schemes in Malaysia. A questionnaire survey was utilised to collect primary data from 194 department heads in Malaysia's federal ministries. The collected data was analysed using descriptive statistics and factor analysis. Findings revealed that 94.7% of respondents agreed to implementing risk management in their respective departments, but the level of priority for these risk management factors differs based on the service schemes. This study will assist policymakers to identify what is needed to enhance risk management practices in the public sector.

Keywords: pubic sector; risk management; factor analysis; Malaysia.

DOI: 10.1504/IJBEM.2020.111737

International Journal of Business and Emerging Markets, 2020 Vol.12 No.4, pp.377 - 390

Received: 27 Sep 2019
Accepted: 06 Apr 2020

Published online: 11 Dec 2020 *

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