Employees’ Perceived Risk Management in Public Procurement and Finance: Evidence in Malaysia

This study evaluated employees’ perspectives about goal setting, the internal environment, information sharing, risk response, monitoring, risk assessment, control activities, and awareness of internal controls. Five hundred thirty-seven public workers responded to a questionnaire survey based on th...

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Bibliographic Details
Published in:Management and Accounting Review
Main Author: Binti Ilias A.; Baidi N.; Ghani E.K.
Format: Article
Language:English
Published: Universiti Teknologi Mara 2023
Online Access:https://www.scopus.com/inward/record.uri?eid=2-s2.0-85185489166&doi=10.24191%2fMAR.V22I03-07&partnerID=40&md5=f1e91e57e65f8cabc4a39fcdf8df97f7
id 2-s2.0-85185489166
spelling 2-s2.0-85185489166
Binti Ilias A.; Baidi N.; Ghani E.K.
Employees’ Perceived Risk Management in Public Procurement and Finance: Evidence in Malaysia
2023
Management and Accounting Review
22
3
10.24191/MAR.V22I03-07
https://www.scopus.com/inward/record.uri?eid=2-s2.0-85185489166&doi=10.24191%2fMAR.V22I03-07&partnerID=40&md5=f1e91e57e65f8cabc4a39fcdf8df97f7
This study evaluated employees’ perspectives about goal setting, the internal environment, information sharing, risk response, monitoring, risk assessment, control activities, and awareness of internal controls. Five hundred thirty-seven public workers responded to a questionnaire survey based on the Committee of Sponsoring Organizations (COSO) Enterprise Risk Management (ERM) (2004). In general, all employees in the public sector perceived procurement and risk management as high-risk sectors within the government’s procurement and payment divisions. This study demonstrated that employees comprehend risk management, although their understanding of internal controls is somewhat lacking. In addition, the employees voiced their concerns regarding the conflict of interest among review team members, the significant inertia, the numerous contact points, the preferred supplier indicators, the quantity of proposals, the ties between bidders that inhibited competition, and especially the size of bids. To achieve government goals, public personnel concurred that they must comprehend the systematic and procurement processes for all activities. This study implies that the employees may persuade top management to adopt a robust risk management strategy prior to establishing ministry and departmental goals, thereby aiding the government in enhancing risk management and combating corruption and the government’s Sustainable Development Goals (SDG) 12 and 16. © 2023, Universiti Teknologi Mara. All rights reserved.
Universiti Teknologi Mara
26007975
English
Article
All Open Access; Bronze Open Access
author Binti Ilias A.; Baidi N.; Ghani E.K.
spellingShingle Binti Ilias A.; Baidi N.; Ghani E.K.
Employees’ Perceived Risk Management in Public Procurement and Finance: Evidence in Malaysia
author_facet Binti Ilias A.; Baidi N.; Ghani E.K.
author_sort Binti Ilias A.; Baidi N.; Ghani E.K.
title Employees’ Perceived Risk Management in Public Procurement and Finance: Evidence in Malaysia
title_short Employees’ Perceived Risk Management in Public Procurement and Finance: Evidence in Malaysia
title_full Employees’ Perceived Risk Management in Public Procurement and Finance: Evidence in Malaysia
title_fullStr Employees’ Perceived Risk Management in Public Procurement and Finance: Evidence in Malaysia
title_full_unstemmed Employees’ Perceived Risk Management in Public Procurement and Finance: Evidence in Malaysia
title_sort Employees’ Perceived Risk Management in Public Procurement and Finance: Evidence in Malaysia
publishDate 2023
container_title Management and Accounting Review
container_volume 22
container_issue 3
doi_str_mv 10.24191/MAR.V22I03-07
url https://www.scopus.com/inward/record.uri?eid=2-s2.0-85185489166&doi=10.24191%2fMAR.V22I03-07&partnerID=40&md5=f1e91e57e65f8cabc4a39fcdf8df97f7
description This study evaluated employees’ perspectives about goal setting, the internal environment, information sharing, risk response, monitoring, risk assessment, control activities, and awareness of internal controls. Five hundred thirty-seven public workers responded to a questionnaire survey based on the Committee of Sponsoring Organizations (COSO) Enterprise Risk Management (ERM) (2004). In general, all employees in the public sector perceived procurement and risk management as high-risk sectors within the government’s procurement and payment divisions. This study demonstrated that employees comprehend risk management, although their understanding of internal controls is somewhat lacking. In addition, the employees voiced their concerns regarding the conflict of interest among review team members, the significant inertia, the numerous contact points, the preferred supplier indicators, the quantity of proposals, the ties between bidders that inhibited competition, and especially the size of bids. To achieve government goals, public personnel concurred that they must comprehend the systematic and procurement processes for all activities. This study implies that the employees may persuade top management to adopt a robust risk management strategy prior to establishing ministry and departmental goals, thereby aiding the government in enhancing risk management and combating corruption and the government’s Sustainable Development Goals (SDG) 12 and 16. © 2023, Universiti Teknologi Mara. All rights reserved.
publisher Universiti Teknologi Mara
issn 26007975
language English
format Article
accesstype All Open Access; Bronze Open Access
record_format scopus
collection Scopus
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