The purpose of this paper is to discuss the application of risk management and auditing to technology incubators/science parks. The proposed audit plan focusses on the risk assessment using the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework.
The risk-based audit plan for auditing and managing the risks associated with the operation of technology incubators/science parks is based on the application of the COSO framework.
The proposed audit plan and performance analysis as a result of COSO application can be used as a risk management tool to improve effective operation of the incubator programmes.
The paper addresses the challenges of new auditing approach. In particular, the study applies the COSO framework to manage the risks of technology incubators/science parks which would help fill the gap in technology auditing. The audit plan and the performance analysis tool provide a new approach to assist R&D managers in performing risk assessments across various aspects of incubation operation.
Wonglimpiyarat, J. (2017), "Technology auditing and risk management of technology incubators/science parks", World Journal of Entrepreneurship, Management and Sustainable Development, Vol. 13 No. 1, pp. 44-56. https://doi.org/10.1108/WJEMSD-04-2016-0023
