THE EFFECTIVENESS OF ENTERPRISE RISK MANAGEMENT ON FINANCE, ACCOUNTING, AND BUDGETING OF ROYAL THAI AIR FORCE

Abstract

This research aims to study relationship between component factors of risk management and effectiveness of risk management in financial, accounting, and budgeting functions of the Royal Thai Air Force by multiple regression analysis. Results show that all of the eight factors - which comprise management support, understanding of risk management, risk management compliance, process of risk management, communication, evaluation, training, and monitoring of risk management - lead risk management to be effective. The factor having a most impact on risk management effectiveness is risk management compliance.