预算风险管理重新考虑将预算松弛作为预算风险管理的策略中英文外文翻译.doc

毕设附件 外文文献原文及译文 原文 Rethinking budgetary slack as budget risk management Moataz Elmassri；Elaine Harris Budget risk management A great deal has been written on risk and risk management generally in the last 20 years, since the publication of the [5] Cadbury Code (1992), but little has been directly related to budgetary control. Risk management appeared for the first time in CIMAs terminology only in 2005, defined as: The process of understanding and managing the risks that the entity is inevitably subject to in attempting to achieve its corporate objectives. If business risk is seen as the risk that corporate objectives are not achieved, then budget risk may be defined as the risk that performance will deviate from the budget due to planning rather than operating variances, which may arise from changes in the economic environment. Uncertainty in the budget-setting and control process has been studied in both a quantitative way ([33] Otley and Berry, 1980) and a more qualitative way ([9] Collier et al. , 2007), but no link has been explicitly made between budget slack and risk management. Risk is an area of management control identified by [4] Berry et al.(2009) as an emerging theme, worthy of further research. The risk management process follows a six step process, which can be described as clarify objectives, identify risks, assess risk, decide on response, report and review ([24] Institute of Risk Management (IRM) et al. , 2002), which can be linked to the budgetary control process (Table IV [Figure omitted. See Article Image.]). The budget is the principal way in which the entity turns its corporate objectives into a financial plan which can be used as a yardstick against which to measure its performance. Variances from a budget when actual performance is measured can either be due to uncontrollable changes in the environment or variations in efficiency and effectiveness of the operating entity, deemed to be more controllable. When flexible budge