The Implementation of Risk Management in Malaysian Public Sector to Sustain Federal Government’s Revenue

Ahmad Shukri Abdul Gani; Basariah Salim; Noraza Mat Udin

doi:doi:10.11648/j.ijafrm.20200502.12

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The Implementation of Risk Management in Malaysian Public Sector to Sustain Federal Government’s Revenue

Ahmad Shukri Abdul Gani, Basariah Salim, Noraza Mat Udin

Published in International Journal of Accounting, Finance and Risk Management (Volume 5, Issue 2)

Received: 23 February 2020 Accepted: 23 March 2020 Published: 14 April 2020

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Abstract

The purpose of this paper is to examine the implementation of a risk management framework and process in the Malaysian public sector, particularly in the main collector agencies of the Federal Government of Malaysia (FGOM). The sustainability of the government’s financial situation became a concern among the public. The scrapped goods and services tax (GST), the reintroduction of the sales and services tax (SST) and level of national debt triggered various responses. The public expects the government to identify the risks systematically and take action to minimize the impact. Thus, the government should implement risk management to enhance the effectiveness of public sector financial management. The research method involved administering a questionnaire to five main revenue collector agencies of the FGOM. The respondents were staff members holding senior and middle positions in the accounts, finance, and revenue collection department or unit of the agencies. The significant findings on the extent of risk management in the Malaysian public sector were still not practiced systematically. The risk management framework was not sufficient and the risk management processes were not embedded to ensure that staff across the organization collaborate and co-operate to manage risks. In the Malaysian context, written policies should be published to practice risk management systematically in the public sector since it is the critical success factor in implementing any system in the government. The policies should be followed by further guidelines in phases to improve risk management implementation.

Published in	International Journal of Accounting, Finance and Risk Management (Volume 5, Issue 2)
DOI	10.11648/j.ijafrm.20200502.12
Page(s)	76-83
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2020. Published by Science Publishing Group

Keywords

Federal Government, Malaysia, Public Sector, Risk Management, Revenue Management

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APA Style

Ahmad Shukri Abdul Gani, Basariah Salim, Noraza Mat Udin. (2020). The Implementation of Risk Management in Malaysian Public Sector to Sustain Federal Government’s Revenue. International Journal of Accounting, Finance and Risk Management, 5(2), 76-83. https://doi.org/10.11648/j.ijafrm.20200502.12

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ACS Style

Ahmad Shukri Abdul Gani; Basariah Salim; Noraza Mat Udin. The Implementation of Risk Management in Malaysian Public Sector to Sustain Federal Government’s Revenue. Int. J. Account. Finance Risk Manag. 2020, 5(2), 76-83. doi: 10.11648/j.ijafrm.20200502.12

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AMA Style

Ahmad Shukri Abdul Gani, Basariah Salim, Noraza Mat Udin. The Implementation of Risk Management in Malaysian Public Sector to Sustain Federal Government’s Revenue. Int J Account Finance Risk Manag. 2020;5(2):76-83. doi: 10.11648/j.ijafrm.20200502.12

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@article{10.11648/j.ijafrm.20200502.12,
  author = {Ahmad Shukri Abdul Gani and Basariah Salim and Noraza Mat Udin},
  title = {The Implementation of Risk Management in Malaysian Public Sector to Sustain Federal Government’s Revenue},
  journal = {International Journal of Accounting, Finance and Risk Management},
  volume = {5},
  number = {2},
  pages = {76-83},
  doi = {10.11648/j.ijafrm.20200502.12},
  url = {https://doi.org/10.11648/j.ijafrm.20200502.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijafrm.20200502.12},
  abstract = {The purpose of this paper is to examine the implementation of a risk management framework and process in the Malaysian public sector, particularly in the main collector agencies of the Federal Government of Malaysia (FGOM). The sustainability of the government’s financial situation became a concern among the public. The scrapped goods and services tax (GST), the reintroduction of the sales and services tax (SST) and level of national debt triggered various responses. The public expects the government to identify the risks systematically and take action to minimize the impact. Thus, the government should implement risk management to enhance the effectiveness of public sector financial management. The research method involved administering a questionnaire to five main revenue collector agencies of the FGOM. The respondents were staff members holding senior and middle positions in the accounts, finance, and revenue collection department or unit of the agencies. The significant findings on the extent of risk management in the Malaysian public sector were still not practiced systematically. The risk management framework was not sufficient and the risk management processes were not embedded to ensure that staff across the organization collaborate and co-operate to manage risks. In the Malaysian context, written policies should be published to practice risk management systematically in the public sector since it is the critical success factor in implementing any system in the government. The policies should be followed by further guidelines in phases to improve risk management implementation.},
 year = {2020}
}

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TY  - JOUR
T1  - The Implementation of Risk Management in Malaysian Public Sector to Sustain Federal Government’s Revenue
AU  - Ahmad Shukri Abdul Gani
AU  - Basariah Salim
AU  - Noraza Mat Udin
Y1  - 2020/04/14
PY  - 2020
N1  - https://doi.org/10.11648/j.ijafrm.20200502.12
DO  - 10.11648/j.ijafrm.20200502.12
T2  - International Journal of Accounting, Finance and Risk Management
JF  - International Journal of Accounting, Finance and Risk Management
JO  - International Journal of Accounting, Finance and Risk Management
SP  - 76
EP  - 83
PB  - Science Publishing Group
SN  - 2578-9376
UR  - https://doi.org/10.11648/j.ijafrm.20200502.12
AB  - The purpose of this paper is to examine the implementation of a risk management framework and process in the Malaysian public sector, particularly in the main collector agencies of the Federal Government of Malaysia (FGOM). The sustainability of the government’s financial situation became a concern among the public. The scrapped goods and services tax (GST), the reintroduction of the sales and services tax (SST) and level of national debt triggered various responses. The public expects the government to identify the risks systematically and take action to minimize the impact. Thus, the government should implement risk management to enhance the effectiveness of public sector financial management. The research method involved administering a questionnaire to five main revenue collector agencies of the FGOM. The respondents were staff members holding senior and middle positions in the accounts, finance, and revenue collection department or unit of the agencies. The significant findings on the extent of risk management in the Malaysian public sector were still not practiced systematically. The risk management framework was not sufficient and the risk management processes were not embedded to ensure that staff across the organization collaborate and co-operate to manage risks. In the Malaysian context, written policies should be published to practice risk management systematically in the public sector since it is the critical success factor in implementing any system in the government. The policies should be followed by further guidelines in phases to improve risk management implementation.
VL  - 5
IS  - 2
ER  -

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Author Information

Ahmad Shukri Abdul Gani

Tunku Puteri Intan Safinaz School of Accounting, Universiti Utara Malaysia, Sintok, Malaysia
Basariah Salim

Tunku Puteri Intan Safinaz School of Accounting, Universiti Utara Malaysia, Sintok, Malaysia
Noraza Mat Udin

Tunku Puteri Intan Safinaz School of Accounting, Universiti Utara Malaysia, Sintok, Malaysia

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Plain Text BibTeX RIS

APA Style

Ahmad Shukri Abdul Gani, Basariah Salim, Noraza Mat Udin. (2020). The Implementation of Risk Management in Malaysian Public Sector to Sustain Federal Government’s Revenue. International Journal of Accounting, Finance and Risk Management, 5(2), 76-83. https://doi.org/10.11648/j.ijafrm.20200502.12

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ACS Style

Ahmad Shukri Abdul Gani; Basariah Salim; Noraza Mat Udin. The Implementation of Risk Management in Malaysian Public Sector to Sustain Federal Government’s Revenue. Int. J. Account. Finance Risk Manag. 2020, 5(2), 76-83. doi: 10.11648/j.ijafrm.20200502.12

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AMA Style

Ahmad Shukri Abdul Gani, Basariah Salim, Noraza Mat Udin. The Implementation of Risk Management in Malaysian Public Sector to Sustain Federal Government’s Revenue. Int J Account Finance Risk Manag. 2020;5(2):76-83. doi: 10.11648/j.ijafrm.20200502.12

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@article{10.11648/j.ijafrm.20200502.12,
  author = {Ahmad Shukri Abdul Gani and Basariah Salim and Noraza Mat Udin},
  title = {The Implementation of Risk Management in Malaysian Public Sector to Sustain Federal Government’s Revenue},
  journal = {International Journal of Accounting, Finance and Risk Management},
  volume = {5},
  number = {2},
  pages = {76-83},
  doi = {10.11648/j.ijafrm.20200502.12},
  url = {https://doi.org/10.11648/j.ijafrm.20200502.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijafrm.20200502.12},
  abstract = {The purpose of this paper is to examine the implementation of a risk management framework and process in the Malaysian public sector, particularly in the main collector agencies of the Federal Government of Malaysia (FGOM). The sustainability of the government’s financial situation became a concern among the public. The scrapped goods and services tax (GST), the reintroduction of the sales and services tax (SST) and level of national debt triggered various responses. The public expects the government to identify the risks systematically and take action to minimize the impact. Thus, the government should implement risk management to enhance the effectiveness of public sector financial management. The research method involved administering a questionnaire to five main revenue collector agencies of the FGOM. The respondents were staff members holding senior and middle positions in the accounts, finance, and revenue collection department or unit of the agencies. The significant findings on the extent of risk management in the Malaysian public sector were still not practiced systematically. The risk management framework was not sufficient and the risk management processes were not embedded to ensure that staff across the organization collaborate and co-operate to manage risks. In the Malaysian context, written policies should be published to practice risk management systematically in the public sector since it is the critical success factor in implementing any system in the government. The policies should be followed by further guidelines in phases to improve risk management implementation.},
 year = {2020}
}

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TY  - JOUR
T1  - The Implementation of Risk Management in Malaysian Public Sector to Sustain Federal Government’s Revenue
AU  - Ahmad Shukri Abdul Gani
AU  - Basariah Salim
AU  - Noraza Mat Udin
Y1  - 2020/04/14
PY  - 2020
N1  - https://doi.org/10.11648/j.ijafrm.20200502.12
DO  - 10.11648/j.ijafrm.20200502.12
T2  - International Journal of Accounting, Finance and Risk Management
JF  - International Journal of Accounting, Finance and Risk Management
JO  - International Journal of Accounting, Finance and Risk Management
SP  - 76
EP  - 83
PB  - Science Publishing Group
SN  - 2578-9376
UR  - https://doi.org/10.11648/j.ijafrm.20200502.12
AB  - The purpose of this paper is to examine the implementation of a risk management framework and process in the Malaysian public sector, particularly in the main collector agencies of the Federal Government of Malaysia (FGOM). The sustainability of the government’s financial situation became a concern among the public. The scrapped goods and services tax (GST), the reintroduction of the sales and services tax (SST) and level of national debt triggered various responses. The public expects the government to identify the risks systematically and take action to minimize the impact. Thus, the government should implement risk management to enhance the effectiveness of public sector financial management. The research method involved administering a questionnaire to five main revenue collector agencies of the FGOM. The respondents were staff members holding senior and middle positions in the accounts, finance, and revenue collection department or unit of the agencies. The significant findings on the extent of risk management in the Malaysian public sector were still not practiced systematically. The risk management framework was not sufficient and the risk management processes were not embedded to ensure that staff across the organization collaborate and co-operate to manage risks. In the Malaysian context, written policies should be published to practice risk management systematically in the public sector since it is the critical success factor in implementing any system in the government. The policies should be followed by further guidelines in phases to improve risk management implementation.
VL  - 5
IS  - 2
ER  -

Copy | Download