THE ROLE OF GOVERNMENTAL ACCOUNTANTS IN RISK MANAGEMENT
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- 1-5 Chapters
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- Recommended for : Student Researchers
- NGN 3000
ABSTRACT: THE ROLE OF GOVERNMENTAL ACCOUNTANTS IN RISK MANAGEMENT
This study explores the critical role governmental accountants play in risk management, aiming to (1) identify the specific responsibilities of governmental accountants in risk management frameworks, (2) evaluate the effectiveness of risk management strategies employed by governmental accountants, and (3) analyze the impact of governmental accountants' risk management on public sector financial stability. Utilizing a survey design justified by the need to gather comprehensive and quantifiable data from a large population, this research involved a sample size of 398 accountants, determined using Taro Yamane’s formula, ensuring a 95% confidence level and a 5% margin of error. A case study focusing on Abuja, a hub of governmental activities in Nigeria, provided in-depth insights. The survey achieved a reliability coefficient score of 0.89, indicating high reliability. Findings reveal that governmental accountants are pivotal in identifying and mitigating financial risks, and their proactive risk management practices significantly enhance financial stability. Recommendations include the need for continuous training and development of risk management skills among governmental accountants and the integration of advanced risk management tools to improve efficiency.
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