AN EVALUATION OF RISK ASSESSMENT TECHNIQUES IN COMPANY’S MANAGEMENT ACCOUNTING
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- 1-5 Chapters
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- Simple Percentage
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- Recommended for : Student Researchers
- NGN 3000
Abstract:
This study examines the use of risk assessment techniques in management accounting in Lagos State, Nigeria. The objectives are to: (1) evaluate how risk assessment techniques enhance financial planning and control, (2) assess their impact on organizational stability, and (3) analyze the challenges of implementing effective risk assessment methods. A survey design was chosen to gather data from financial managers and risk analysts. The sample size, calculated using Taro Yamane's formula, ensures representativeness. Stanbic IBTC Holdings Plc was selected as the case study due to its proactive risk management practices. The reliability coefficient score of the survey was 0.91. Findings indicate that risk assessment techniques significantly enhance financial planning and control, improving organizational stability. However, challenges such as data accuracy and method selection were identified. It is recommended that companies in Lagos State adopt advanced risk assessment techniques and provide continuous training to improve financial planning and organizational stability.
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