Linking key determinants of risks management strategies and its implementation on Abu Dhabi’s municipalities

Abstract

Risk management strategies (RMS) are a systematic way of assessing risk exposure within the institution. It is also a comprehensive tool and systematic mechanism to predict the likelihood and impact of events, including unexpected occurrences. The objective of this study is to examine the key determinants of RMS implementation amongst the municipalities in Abu Dhabi. This research adopted a quantitative orientation to analyze the data obtained from the questionnaire distributed to the three main municipalities in Abu Dhabi via their Risk Management Division. The results of this study are quite encouraging as a number of variables have relationships with RMS implementation. This research have significant implications for stakeholders such as top management of public sector including internal auditors, audit committee, standard-setters or even regulatory bodies and academician in Abu Dhabi. The current study is significant as it helps shed light on the relative importance of the leadership, operating framework, governance mechanism and compliance constructs on RMS implementation in the public sector and more especially in Abu Dhabi’s municipalities.