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Designing a Budgetary Control Framework: The Case of a Multinational Mining Engineering Company

In: Designing Cost Management Systems to Support Business Decision-Making

Author

Listed:
  • Arnu Wyk

    (North-West University)

  • Susanna L Middelberg

    (North-West University)

Abstract

There has been an increase in the financial collapse of companies due to weak control systems. Budgeting is an activity that, if properly governed and controlled, could significantly enhance project cost management and enhance decision-making. Industry 4.0 (used interchangeably with the fourth industrial revolution) technologies can aid in solving this control and internal governance problem. This case study considers the design of a budgetary control framework for a multinational company using Industry 4.0 technologies that can aid in controlling and enforcing of budgeting systems across countries. The study found that the technologies of systems integration, cyber physical systems, cloud computing, and big data and big data analytics can be effectively combined to design a budgeting control framework to strengthen internal governance.

Suggested Citation

  • Arnu Wyk & Susanna L Middelberg, 2021. "Designing a Budgetary Control Framework: The Case of a Multinational Mining Engineering Company," Springer Books, in: Pieter Buys (ed.), Designing Cost Management Systems to Support Business Decision-Making, chapter 0, pages 41-62, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-1751-5_3
    DOI: 10.1007/978-981-16-1751-5_3
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    More about this item

    Keywords

    Budgeting; Corporate governance; Industry 4.0; Multinational companies; Internal control; Case study;
    All these keywords.

    JEL classification:

    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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