Municipal fiscal risk index: a risk management tool in local governments
Autor(a) principal: | |
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Data de Publicação: | 2022 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Research, Society and Development |
Texto Completo: | https://rsdjournal.org/index.php/rsd/article/view/31003 |
Resumo: | This study aims to establish a Municipal Fiscal Risk Index (IRFM), with accounting indicators that assess the economic-financial condition of short and medium-term fiscal decision-making; different from other indexes found in the literature, which value only budgetary aspects in the assessment of the Fiscal Risk of public entities. A methodology was developed that used the accounting indicators: general indebtedness; short-term indebtedness; immediate financial indebtedness; share of short-term debt over long-term debt; and debt limit. The arithmetic mean between them was calculated, composing, in aggregate, the IRFM of Brazilian capitals, which varies between 0 and 1, knowing that the closer to 1, the greater the fiscal risk of the respective public entity. The IRFM proposed in this study serves as a risk assessment instrument and can be incorporated into risk management models used by public entities, such as Enterprise Risk Management (ERM - COSO), Risk Management - Principles and Guidelines (ISO 31000 - ABNT) and Management of Risk – Principles and Concepts (Orange Book - HM Treasury). Therefore, it constitutes one more element for the management and control of fiscal risks in the public sector. |
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Municipal fiscal risk index: a risk management tool in local governmentsÍndice de riesgo fiscal municipal (IRFM): un instrumento para la gestión del riesgo en los gobiernos localesÍndice de risco fiscal municipal (IRFM): um instrumento para gestão de riscos em governos locaisTax risk indexTax riskPublic sector.Índice de risco fiscalRisco fiscalSetor público.Índice de riesgo fiscalRiesgo fiscalSector público.This study aims to establish a Municipal Fiscal Risk Index (IRFM), with accounting indicators that assess the economic-financial condition of short and medium-term fiscal decision-making; different from other indexes found in the literature, which value only budgetary aspects in the assessment of the Fiscal Risk of public entities. A methodology was developed that used the accounting indicators: general indebtedness; short-term indebtedness; immediate financial indebtedness; share of short-term debt over long-term debt; and debt limit. The arithmetic mean between them was calculated, composing, in aggregate, the IRFM of Brazilian capitals, which varies between 0 and 1, knowing that the closer to 1, the greater the fiscal risk of the respective public entity. The IRFM proposed in this study serves as a risk assessment instrument and can be incorporated into risk management models used by public entities, such as Enterprise Risk Management (ERM - COSO), Risk Management - Principles and Guidelines (ISO 31000 - ABNT) and Management of Risk – Principles and Concepts (Orange Book - HM Treasury). Therefore, it constitutes one more element for the management and control of fiscal risks in the public sector.El objetivo de este estudio es establecer un Índice de Riesgo Fiscal Municipal (IRFM), construido por indicadores contables, capaz de señalar la condición económico-financiera generada por las decisiones fiscales tomadas en el corto y mediano plazo; a diferencia de otros índices encontrados en la literatura, que valoran aspectos estrictamente presupuestarios en la evaluación del Riesgo Fiscal de las entidades públicas. Para la elaboración del IRFM se desarrolló una metodología de cálculo que utilizó los indicadores contables: endeudamiento general; endeudamiento a corto plazo; endeudamiento financiero inmediato; proporción de la deuda a corto plazo sobre la deuda a largo plazo; y límite de deuda. Después del cálculo y escalamiento individual de cada indicador, se calculó la media aritmética entre ellos, componiendo, en conjunto, el IRFM de los capitales brasileños, que varía entre 0 y 1, sabiendo que cuanto más cercano a 1, mayor es el riesgo fiscal de la entidad pública respectiva. El IRFM propuesto en este estudio sirve como instrumento de evaluación de riesgos y puede incorporarse a los modelos de gestión de riesgos utilizados por las entidades públicas, tales como Enterprise Risk Management (ERM - COSO), Risk Management - Principios y Directrices (ISO 31000 - ABNT) y Management de Riesgo – Principios y Conceptos (Libro Naranja - Tesorería de SM). Por tanto, constituye un elemento más para la gestión y control de los riesgos fiscales en el sector público.O objetivo desse estudo é estabelecer um Índice de Risco Fiscal Municipal (IRFM), construído por indicadores contábeis, capaz de sinalizar a condição econômico-financeira gerada pelas decisões fiscais tomadas no curto e médio prazo; diferente de outros índices encontrados na literatura, que valorizam aspectos estritamente orçamentários na avaliação do Risco Fiscal de entidades públicas. Para elaborar o IRFM, foi desenvolvida uma metodologia de cálculo que utilizou os indicadores contábeis: endividamento geral; endividamento de curto prazo; endividamento financeiro imediato; participação das dívidas de curto prazo sobre as dívidas de longo prazo; e limite de endividamento. Após o cálculo individual e escalonamento de cada indicador, foi calculada a média aritmética entre eles compondo, de maneira agregada, o IRFM das capitais brasileiras, que varia entre 0 e 1, sabendo que quanto mais próximo de 1, maior será o risco fiscal do respectivo ente público. O IRFM proposto neste estudo serve como instrumento de avaliação de risco e pode ser incorporado aos modelos de gestão de riscos utilizados por entidades públicas, tais como, Enterprise Risk Management (ERM - COSO), Gestão de Riscos – Princípios e Diretrizes (ISO 31000 – ABNT) e Management of Risk – Principles and Concepts (Orange Book - HM Treasury). Portanto, constitui-se em mais um elemento para gestão e controle dos riscos fiscais no setor público.Research, Society and Development2022-06-20info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://rsdjournal.org/index.php/rsd/article/view/3100310.33448/rsd-v11i8.31003Research, Society and Development; Vol. 11 No. 8; e32011831003Research, Society and Development; Vol. 11 Núm. 8; e32011831003Research, Society and Development; v. 11 n. 8; e320118310032525-3409reponame:Research, Society and Developmentinstname:Universidade Federal de Itajubá (UNIFEI)instacron:UNIFEIporhttps://rsdjournal.org/index.php/rsd/article/view/31003/26557Copyright (c) 2022 Leinad de Carvalho Silva; Daiane Pias Machado; Alexandre Costa Quintanahttps://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessSilva, Leinad de Carvalho Machado, Daiane Pias Quintana, Alexandre Costa 2022-07-01T13:34:06Zoai:ojs.pkp.sfu.ca:article/31003Revistahttps://rsdjournal.org/index.php/rsd/indexPUBhttps://rsdjournal.org/index.php/rsd/oairsd.articles@gmail.com2525-34092525-3409opendoar:2024-01-17T09:47:31.921372Research, Society and Development - Universidade Federal de Itajubá (UNIFEI)false |
dc.title.none.fl_str_mv |
Municipal fiscal risk index: a risk management tool in local governments Índice de riesgo fiscal municipal (IRFM): un instrumento para la gestión del riesgo en los gobiernos locales Índice de risco fiscal municipal (IRFM): um instrumento para gestão de riscos em governos locais |
title |
Municipal fiscal risk index: a risk management tool in local governments |
spellingShingle |
Municipal fiscal risk index: a risk management tool in local governments Silva, Leinad de Carvalho Tax risk index Tax risk Public sector. Índice de risco fiscal Risco fiscal Setor público. Índice de riesgo fiscal Riesgo fiscal Sector público. |
title_short |
Municipal fiscal risk index: a risk management tool in local governments |
title_full |
Municipal fiscal risk index: a risk management tool in local governments |
title_fullStr |
Municipal fiscal risk index: a risk management tool in local governments |
title_full_unstemmed |
Municipal fiscal risk index: a risk management tool in local governments |
title_sort |
Municipal fiscal risk index: a risk management tool in local governments |
author |
Silva, Leinad de Carvalho |
author_facet |
Silva, Leinad de Carvalho Machado, Daiane Pias Quintana, Alexandre Costa |
author_role |
author |
author2 |
Machado, Daiane Pias Quintana, Alexandre Costa |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Silva, Leinad de Carvalho Machado, Daiane Pias Quintana, Alexandre Costa |
dc.subject.por.fl_str_mv |
Tax risk index Tax risk Public sector. Índice de risco fiscal Risco fiscal Setor público. Índice de riesgo fiscal Riesgo fiscal Sector público. |
topic |
Tax risk index Tax risk Public sector. Índice de risco fiscal Risco fiscal Setor público. Índice de riesgo fiscal Riesgo fiscal Sector público. |
description |
This study aims to establish a Municipal Fiscal Risk Index (IRFM), with accounting indicators that assess the economic-financial condition of short and medium-term fiscal decision-making; different from other indexes found in the literature, which value only budgetary aspects in the assessment of the Fiscal Risk of public entities. A methodology was developed that used the accounting indicators: general indebtedness; short-term indebtedness; immediate financial indebtedness; share of short-term debt over long-term debt; and debt limit. The arithmetic mean between them was calculated, composing, in aggregate, the IRFM of Brazilian capitals, which varies between 0 and 1, knowing that the closer to 1, the greater the fiscal risk of the respective public entity. The IRFM proposed in this study serves as a risk assessment instrument and can be incorporated into risk management models used by public entities, such as Enterprise Risk Management (ERM - COSO), Risk Management - Principles and Guidelines (ISO 31000 - ABNT) and Management of Risk – Principles and Concepts (Orange Book - HM Treasury). Therefore, it constitutes one more element for the management and control of fiscal risks in the public sector. |
publishDate |
2022 |
dc.date.none.fl_str_mv |
2022-06-20 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://rsdjournal.org/index.php/rsd/article/view/31003 10.33448/rsd-v11i8.31003 |
url |
https://rsdjournal.org/index.php/rsd/article/view/31003 |
identifier_str_mv |
10.33448/rsd-v11i8.31003 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://rsdjournal.org/index.php/rsd/article/view/31003/26557 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2022 Leinad de Carvalho Silva; Daiane Pias Machado; Alexandre Costa Quintana https://creativecommons.org/licenses/by/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2022 Leinad de Carvalho Silva; Daiane Pias Machado; Alexandre Costa Quintana https://creativecommons.org/licenses/by/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Research, Society and Development |
publisher.none.fl_str_mv |
Research, Society and Development |
dc.source.none.fl_str_mv |
Research, Society and Development; Vol. 11 No. 8; e32011831003 Research, Society and Development; Vol. 11 Núm. 8; e32011831003 Research, Society and Development; v. 11 n. 8; e32011831003 2525-3409 reponame:Research, Society and Development instname:Universidade Federal de Itajubá (UNIFEI) instacron:UNIFEI |
instname_str |
Universidade Federal de Itajubá (UNIFEI) |
instacron_str |
UNIFEI |
institution |
UNIFEI |
reponame_str |
Research, Society and Development |
collection |
Research, Society and Development |
repository.name.fl_str_mv |
Research, Society and Development - Universidade Federal de Itajubá (UNIFEI) |
repository.mail.fl_str_mv |
rsd.articles@gmail.com |
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1797052796112994304 |