The risk maturity of South African private and public sector organisations

Show simple item record Coetzee, G.P. (Philna) Lubbe, D. 2013-04-26T13:08:41Z 2013-04-26T13:08:41Z 2013
dc.description.abstract Risk management is a fairly new concept for organisations world-wide, both in the private and the public sectors. With the evolution of corporate governance in general and specifically risk management, formalised risk management frameworks have been recognised by many as an effective tool in assisting management with their responsibilities. In South Africa, this is supported by the fact that risk management is included in the leading corporate governance codes and in legislation, such as the Public Finance Management Act, No 1 of 1999 and the King Report on Governance, 2009. However, the question remains as to how comprehensive an organisation’s risk management strategy should be. This article explores the concept of assessing risk maturity by using a risk maturity scorecard. After an existing risk maturity model was adjusted for the South African corporate governance environment, a scorecard was developed that was used to determine the risk maturity level of certain organisations within the South African private and public sectors. Results indicate that organisations within the private sector are mostly risk mature, while public sector organisations are lacking many elements within their risk management frameworks and no risk mature respondent could be found in this sector. Secondly, the article indicates that management’s commitment to risk management could be the one main concern that should be addressed to ensure an effective risk management strategy. en_US
dc.description.librarian am2013 en_US
dc.description.librarian ff2014
dc.description.uri en_US
dc.format.extent 12 p. en_US
dc.format.medium PDF en_US
dc.identifier.citation Coetzee, GP & Lubbe, D 2013, 'The risk maturity of South African private and public sector organisations', Southern African Journal of Accountability and Auditing Research, vol. 14, pp. 45-56. en_US
dc.identifier.issn 1028-9003
dc.language.iso en en_US
dc.publisher Southern African Institute of Government Auditors en_US
dc.rights Southern African Institute of Government Auditors en_US
dc.subject Risk management en_US
dc.subject Risk maturity en_US
dc.subject Risk maturity models en_US
dc.subject Private sector en_US
dc.subject Public sector en_US
dc.subject.lcsh Risk management -- South Africa en
dc.title The risk maturity of South African private and public sector organisations en_US
dc.type Article en_US

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