Język Polski
English
Published
:
2010-02-28
Special Features of Risk Management in the Public Sector with Particular Regard to Local Authorities
Marzanna Poniatowicz
Abstract
The aim of this paper is to analyse the specific nature of the risk associated with the functioning of local authorities, with particular emphasis on financial risk, and to identify the most important instruments for managing that risk. Various types of risk are described which are characteristic of local authorities as public sector entities (such as market risk, operating risk, liquidity risk, inflation risk, currency risk, credit risk, legal risk, political risk, interest rate risk, unstable revenue risk, risk associated with guarantees given by the local authority, risk in public tender procedures, risk of additional delegated tasks, risk of unforeseen events, communication risk, risk in the process of using European Union funds, and information technology risk). Special features of the management of risk in the public sector are described, with indication of the most important instruments used for this, including management inspection, internal audits, and instruments whereby risk is transferred from local authorities to other entities (including risk insurance, securitization and the public-private partnership formula). (original abstract)Keywords:
Public finance sector units, Financial risk management, Public sector, Local government, Public finance sectorMost read articles by the same author(s)
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Poniatowicz, M. (2010). Special Features of Risk Management in the Public Sector with Particular Regard to Local Authorities. Zeszyty Naukowe Wyższej Szkoły Bankowej W Poznaniu, 26(26). Retrieved from https://journals.wsb.poznan.pl/index.php/znwsb/article/view/1674