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Title: | Safeguarding of non-current assets in Maltese local councils |
Authors: | Busuttil, Martha |
Keywords: | Local government -- Malta Assets (Accounting) Auditing, Internal -- Malta Risk management -- Malta |
Issue Date: | 2018 |
Citation: | Busuttil, M. (2018). Safeguarding of non-current assets in Maltese local councils (Master’s dissertation). |
Abstract: | Purpose: Local Councils are responsible to safeguard the non-current assets situated in their locality. This study sets out to analyse the safeguards implemented to protect these assets, after considering the significance of the assets and the risks faced by Local Councils. Design: Secondary data was collected from various sources of literature and through documentary analysis. A mixed research methodology was taken to collect primary data, by administering questionnaires to Executive Secretaries and conducting semistructured interviews with representatives from the National Audit Office, the Local Government Division and local insurance companies. Findings: The most significant risks faced by Local Councils regarding their non-current assets are vandalism and damage caused by natural events. Certain assets, particularly those situated in the open, are exposed to greater risks than others. Safeguards which are sufficient in various Local Councils are maintenance, a safe whistleblowing environment, physical inspections and physical security measures. Weaknesses found are the lack of an up-to-date Fixed Asset Register, inadequate insurance cover, and the lack of identification tags or codes. The substantial economic value and public nature of the assets of Local Councils, merit the importance of allocating resources to implement appropriate safeguarding measures. Conclusions: Safeguarding measures implemented by Local Councils to protect their non-current assets need to be improved. This requires commitment from all stakeholders, namely the Local Councils, other governmental bodies, and the public at large. Value: This study identifies the main deficiencies of the safeguarding measures in Local Councils. By addressing these weaknesses, Local Councils can provide a better service to the public. |
Description: | M.ACCTY. |
URI: | https://www.um.edu.mt/library/oar//handle/123456789/41441 |
Appears in Collections: | Dissertations - FacEma - 2018 Dissertations - FacEMAAcc - 2018 |
Files in This Item:
File | Description | Size | Format | |
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18MACC018.pdf Restricted Access | 2.18 MB | Adobe PDF | View/Open Request a copy |
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