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Study-Unit Description

Study-Unit Description


CODE ACC2271

 
TITLE Risk Management and the Public Sector

 
UM LEVEL 02 - Years 2, 3 in Modular Undergraduate Course

 
MQF LEVEL 5

 
ECTS CREDITS 4

 
DEPARTMENT Accountancy

 
DESCRIPTION This study-unit will address the following topics:

- Describe the need for effective risk management;
- Describe the different types of risks that exist in the Public Sector;
- Describe the risk management process, including identification, analysis, assessment, implementation and review;
- Measure the different risk exposures using quantitative and qualitative approaches;
- Identify and explain risk management processes and strategies including benchmarks for evaluating risk and return;
- Explain the impact of risk culture and corporate values on risk management strategies;
- Analyse risk management examples and apply risk management processes, identifying suitable strategies;
- Analyse the role of insurance in the identification, management and reduction of risk in public service organisations;
- Analyse public expenditure and its characteristics;
- Analyse the source of public revenue;
- Describe the causes and implications of public borrowing and debts;
- Identify the effects of public borrowing and debt on the financial markets;
- Evaluate all forms of internal and external revenue and capital financing (both short and long term) of the public services, including consideration of comparative risk.

Study-unit Aims:

The aim of this study-unit is to provide students reading for the BA (Hons) Public Sector Accounting with an understanding of the importance of risk management with particular reference to its application in the Public Sector.


Learning Outcomes:

1. Knowledge & Understanding
By the end of the study-unit the student will be able to:

- Identify and analyse risk management strategies;
- Discuss the risk to organisations in relation to differing courses of action;
- Analyse the main classes of public expenditure and public revenue, their differing characteristics and their interaction with public policy-making;
- Identify the causes and implications of public borrowing and debt, their significance in the management of the economy, and their influences in the workings and regulation of the financial markets.

2. Skills
By the end of the study-unit the student will be able to:

- Measure the different risk exposures using quantitative and qualitative approaches;
- Evaluate the sources of public and private finance, and of the Maltese Government, and European financial assistance available to public service organisations.


Main Text/s and any supplementary readings:

- Drennan & McConnel (2007) Risk and Crisis Management in the Public Sector. Routledge.
- Young & Fone (2000) Public Sector Risk Management. Newnes.
- COSO (2004). Enterprise Risk Management — Integrated Framework. COSO.
- Chapman (2006) Simple Tools and Techniques for Enterprise Risk Management. Wiley Finance.

 
ADDITIONAL NOTES Pre-requisite Study-unit: ACC1101

This study-unit is only offered to students following the BA (Hons) Public Sector Accounting.


 
STUDY-UNIT TYPE Lecture

 
METHOD OF ASSESSMENT
Assessment Component/s Sept. Asst Session Weighting
Assignment Yes 20%
Examination (2 Hours) Yes 80%

 
LECTURER/S Miguel Borg

 

 
The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints.
Units not attracting a sufficient number of registrations may be withdrawn without notice.
It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years.

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