This resaerch aims at studying the relationship between internal audit procedures
related to risk management and financial reporting reliability in private banking sector
which is considered as the most important one affected directly by the econom
ical
development; and which its results are reflected on the whole financial society. That occurs
by clarifying the procedures contribution in examining and evaluating risk management
effectiveness, besides their roles in enhancing and developing it to increase financial
reporting reliability.
The study concluded that:
Examining and evaluating risk management by internal audit enhances financial
reporting reliability according to internal and external auditors.
Also There is no significant differences in opinins between internal and exernal
auditors about the effet of risk management’s internal audit procedures on the financial
reporting reliability.
Construction projects are subject to risks and uncertainties which affect project targets (cost,
time, quality and safety).
This paper reviews risks and their effects on construction projects in Syria, and it aims to
develop risk management framew
ork.
In this work, risks in construction projects have been defined based on the literature review
and interviews of some experts in the construction field.
A questionnaire was designed to define the probability of risk occurrence and their effects, also
to define the level of their effects by multiplying the probability occurrence with the effects.
Another questionnaire was designed to define the extent of the effects of the most important
risks on each target of the project, and to specify the procedures applied as a response to the
risks.
The results of this research revealed that "the Inflation, price changes" and "the difference
between contracted quantities and actual quantities " are seen as the most important risk,
where the studied risks in this work affect the schedule more than any other project targets.
Also the results showed that avoiding the risks at the construction stage is the most used action.
The purpose of this study is to investigate the role of internal
auditing units in managing risks in Jordanian insurance corporations.
To achieve the objective of this study, a survey questionnaire
consisting of the three sections: Risk assignments، risk assessment and
risk responsiveness was distributed.
سنتطرق في هذا البحث إلى الإفصاحات المتعلقة بمخاطر الائتمان و السوق و التشغيل الواردة في المعيار الإسلامي, لما لها من دور في تعزيز الشفافية و إتاحة المعلومات لجميع الأطراف ذوي العلاقة بالمصرف.
Project risk management plays a pivotal role in the decision-making process, this research
aims mainly to study the impact of the dimensions of project risk management in contraction firms
operating in the Syrian coast on the quality of decision-ma
king and to identify the most influential
dimension in the interpretation of this quality.
The researcher had followed the survey method in his study, and the study population was
included all construction companies operating in the Syrian coast. The researcher adopted
probability sampling (random sampling), and the study sample size was 75 units. The researcher
used a measure of the maturity level of project risk management that developer by (Ciorciari &
Blattner, 2007), and another instrument to measure the quality of decision-making designed by
(Donelan, 2013).
The findings of this study shows that There is significant positive relationship between
events identification and the quality of decision-making and events identification variable occupies
first place among project risk management dimensions in terms of impact on decision making
quality, because this dimension explains a rate equal (9.61%) of decision making quality. The
relationship between the dependent variable quality of decision-making and the seven remaining
dimensions of risk management projects namely (monitoring of risk management - risks response -
objective setting - risk assessment - control activities - risk management culture - information and
communication) is a positive and significant relationship, and risk management as a whole explain
what percentage of (22.6%) of the quality of decision-making.
The most important recommendations reached by the researcher that the contraction firms
working in the Syrian coast should to spread the risk management culture at all levels of
management to enhances the application processes PRM because it will reflect on a more quality of
decisions making.
this
study a questionnaire was implemented as a primary procedure for
any methodology of risk management, and send out to the experts
who work in the field of construction, in order to evaluate the
reality of our projects as well as determine the
serious problems,
and all of this aim to form checklists including the major risks
which the our projects are facing to be as a guide for early risks
alert, to adopt the proper responses to deal with them.
The risk identification is the first stage of risk management process, and all the subsequent
stages (such as risk analysis, assess, response policies and control) are based on it. The more you
identify risks truly and accurately will therefore inc
rease the accuracy and validity of all subsequent
stages in risk management process. On the basis of the importance of this phase this research came
to explore and identify the main risks facing the construction companies operating in Syria.
We follow the descriptive study in his research based on the problem of the study and the
objectives it seeks to achieve. The study population included all construction companies operating
in Syria. The researcher used a questionnaire specifically designed to identify risks in construction
companies by (Zou, et al., 2006) and the student conditioned its questions with the Syrian
environment.
The findings of this study show that inflationary risks ( materials cost- hand labor wages -
transportation costs) are one of the fundamental risks facing construction companies operating in
Syria, in addition to the absence of risk management culture is a major threat because it keeps a
bulk of the unknown risk and thus its effects and consequences are unknown, it noted the absence
of insurance culture at various stages of the work, making things very critical when risks and work
accidents occurs.
The most important recommendations reached by the student is:
1-The construction companies operating in Syria must organize construction contracts in a
way that include in its provisions the possibility of higher prices and the possibility of modifying
the value of the contract.
2- Risk management is an important process at all administrative levels. It can help in
determining the potential risks that may be faced and handling them.
تعتبر إدارة المخاطر في مشاريع التشييد هامة لإتمام أي مشروع بنجاح، و قد وصفت
المراجع النظرية لإدارة المشاريع بشكل مفصل و دقيق عملية إدارة المخاطر الناجحة
للمشاريع الهندسية، و حددت أربع مراحل أساسية لتقدير المخاطر و التعامل معها و هي
تحديد المخاطر،
تقييم المخاطر، التخطيط للاستجابة، التنفيذ. و مع ذلك فإن صناعة
التشييد في سوريا تشهد غياباً شبه كامل لإدارة المخاطر، و من هنا أتت فكرة هذا البحث
لمعرفة مدى وعي المعنيين في صناعة البناء و التشييد في سوريا حول الأنواع المختلفة
للمخاطر المتعلقة بصناعة التشييد، و نفذ استبيان لآراء مجموعة من الخبراء في مجال
المشاريع الهندسية (مدراء مشاريع، مهندسي تنفيذ، مصممين)، بالإضافة إلى مقاولين
و مقاولين ثانويين ممن يقومون بأعمال التنفيذ في موقع المشروع و يتأثرون بخطة المشروع
و يؤثرون بها بشكل مباشر.
The risk management one of the most important pillars of
corporate governance, and play an important role in protecting the
company from external threats and opportunities exist to achieve
the objectives of the company, and in order to fulfill its
duty to the
fullest risk management need to follow a legal approach in their
work, or guided by the principles and standards set by
organizations or committees international protection for the sector
given as a committee of the Basel to protect the banking business,
as the general principles of risk management is to identify,
evaluate and measure and control the risks according to specific
strategy adopted risk management, and can therefore risk
management in companies that take the general rules laid down by
the international committees to suit the nature of its business.
Construction projects are characterized as very complex projects. This is because of their uniqueness, dynamic political and economic circumstances, weather, long life of projects, fluctuations in resources prices, and changes of engineering require
ment, etc. Therefore, construction projects are subject to a wide range of various risks, which in case these risks occur will have considerable impacts on projects objectives in terms of time, cost and quality. Therefore, there is a need to investigate these risks and their impacts on project objectives and parties.
The Client is one of the most important party in any project, and it usually lacks to have a clear strategy and policy to deal and manage risks that affect its objectives. This study aims to produce a strategy to deal and manage risks during construction stage from the client's point of view. The construction stage is selected because it takes a long time of the project life and consumes the largest amount of project budget, and it highly affects the project success or failure.
Data were collected, by utilizing both questionnaire and interview survey, from more than one hundred participants from construction companies, clients and other construction professionals. An SPSS17 and EXCEL software were used to treat the data to find correlation between different variables, means and standard deviations. Risks were ranked based on risk importance indicator. The results showed that the most important risk is 'delay of payment to contractors as agreed in the contract' and the lowest risk is 'changes of design during construction'.
The study concluded that the client should be concerned to formulate a specialized team in risk management in order to assist him in decision making process and developing practical solutions for dealing with risks in the construction sector.
Keywords: risk , risk management , Client , Construction projects .
