The Impact of Risk Management on the Efficiency of Accounting Administration in Educational Institutions under the Office of the Vocational Education Commission in Thailand

Abstract

This research consists purposes were 1. to study the impact of Enterprise Risk Management (COSO-ERM) 2017 which includes 1.1) Governance and organizational culture 1.2) Strategy and objective-setting 1.3) Risk management implementation 1.4) Risk response 1.5) Monitoring and performance evaluation on the effectiveness of accounting management in terms of the accuracy of accounting information 2. to study the impact of Enterprise Risk Management (COSO-ERM) 2017 which includes 2.1) Governance and organizational culture 2.2) Strategy and objective-setting 2.3) Risk management implementation 2.4) Risk response 2.5) Monitoring and performance evaluation on the effectiveness of accounting management in terms of the completeness of documents and reports 3. to study the impact of Enterprise Risk Management (COSO-ERM) 2017 which includes 3.1) Governance and organizational culture 3.2) Strategy and objective-setting 3.3) Risk management implementation 3.4) Risk response 3.5) Monitoring and performance evaluation on the effectiveness of accounting operations in compliance with standards and 4. to study the impact of Enterprise Risk Management (COSO-ERM) 2017 which includes 4.1) Governance and organizational culture 4.2) Strategy and objective-setting 4.3) Risk management implementation 4.4) Risk response 4.5) Monitoring and performance evaluation on the effectiveness of accounting management in terms of efficient resource utilization. This study is quantitative in nature. The research instrument used is a questionnaire. The sample group consists of 258 individuals, including directors, deputy directors of resource management, or heads of accounting departments, selected through simple random sampling. The data collected from the questionnaires were analyzed using descriptive statistics, including percentage, mean and standard deviation, as well as multiple regression analysis. The research findings revealed that 1) Risk management aspects including governance and culture, strategy and objective-setting, risk response and monitoring and evaluation had positive effects on accounting management performance in terms of accuracy of accounting information 2) Risk management in terms of governance and culture had positive effects on accounting management performance regarding the completeness of documents and reports 3) Risk management aspects including governance and culture, risk management implementation, risk response and monitoring and evaluation had positive effects on accounting management performance in terms of compliance with accounting standards and 4) Risk management aspects including governance and culture, strategy and objective-setting, risk management implementation, risk response and monitoring and evaluation had positive effects on accounting management performance in terms of efficient resource utilization, all with statistical significance at the 0.05 level.