With the rise in the complexity of business transactions and emerging prominence of worldwide corporate governance, companies are required to adhere to certain minimal standards of governance and risk management. Organisations take various kinds of risks depending on their operating environments and the gravity of their organisational needs (risk to a return trade-off). Taking risks can either provide benefits to an organisation or cause problems for it. Given the importance of risk management, studies conducted by universities throughout the world reveal serious concerns. The primary objective of this study was to establish perceptions on risk management at Walter Sisulu University (WSU). The literature review of the study provided a discussion concerning best practice as far as the COSO internal control framework, COSO enterprise risk management framework and key aspects of the Kings III report on risk assessment and risks faced by modern business. The study adopted the quantitative research approach using a case study design. A survey was conducted by distributing questionnaires to a selected sample of, Campus management (Deans), Internal auditing III students, Lecturers in commerce, Head of departments and support service personnel of WSU. A random sampling procedure identified thirty three participants and all the participants completed questionnaires across all campuses at WSU. Graphic presentation from Microsoft excel, inferential and basic descriptive statistics from SPSS were used to analyze and interpret data to generate findings. The study revealed that, all principles for the COSO components on internal control, COSO- ERM and the King III report are regarded to be present at WSU. Respondent perceptions falls within the positive zone being “neutral”, “effective” and “highly effective”. The population score is probably also in the neutral zone indicating a not sure respondent’s perception on whether the component or principle is effective or not effective. The Cronbach’s Alpha was conducted to test the internal reliability and consistency of the data. A Cronbach’s Alpha of summated score of 0.974 was achieved on 84 principles that could contribute to the effectiveness of risk management. The researcher recommends creating a risk-awareness culture throughout WSU rather than a silo approach to risk management. Monitoring on the effectiveness of the system of internal control need greater attention at WSU. In addition, the alignment of risk management to institutional strategy needs to be improved, and the University needs to establish and develop an enterprise-risk management policy (ERMP) and create a platform for further studies on risk management.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:nmmu/vital:20464 |
| Date | January 2016 |
| Creators | Qanga, Enathi Jongikhaya |
| Publisher | Nelson Mandela Metropolitan University, Faculty of Business and Economic Sciences |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis, Masters, MTech |
| Format | xix, 146 leaves, pdf |
| Rights | Nelson Mandela Metropolitan University |
Page generated in 0.0016 seconds