Authors: Jarunee Wonglimpiyarat
Addresses: College of Innovation, Thammasat University, Anekprasong 3 Bldg., Prachan Rd., Bangkok 10200, Thailand
Abstract: The central argument of this paper is that policy makers around the world use technology accelerators as mechanisms to drive economic development and national innovative capacity. In the innovation economy, incubators and science parks are technology accelerators that support innovative companies and start-ups. This paper discusses the application of risk management and auditing to technology accelerators. The proposed audit plan focuses on the risk assessment using the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework. The risk-based audit plan and performance analysis tool can help perform risk assessments across the aspects of entrepreneurial development, product/process innovations, production, marketing, management as well as finance and investments. These dynamic tools are innovation enabler that can help achieve effective and efficient goal of incubator operation to maximise the success of emerging businesses.
Keywords: technology accelerators; technology auditing; Committee of Sponsoring Organizations of the Treadway Commission; COSO; technology incubators; science parks.
International Journal of Business Innovation and Research, 2018 Vol.16 No.2, pp.227 - 242
Received: 26 Dec 2016
Accepted: 10 Feb 2017
Published online: 09 May 2018 *