Risk Management and Control in Schools | SABISA

Risk is the threat that an event or action will adversely affect an organisation?s ability to achieve its objectives and to successfully execute its strategies. Risk management is the process by which risks are identified, evaluated and controlled. It is a key element of the framework of governance together with community focus, structures and processes, standards of conduct and service delivery arrangements.

This document aims to raise awareness about the need to address key strategic business risks and to provide good practical guidance for schools to manage such risks in a more effective and formalised way.

The following areas are covered:

• Provide some background on what is meant by risk management, and the interrelationship between risk management, internal control and governance processes generally.
• Look at the elements of a good risk management system, and examine why risk management is currently of crucial important.
• Highlight the benefits arising from good risk management.
• Look at risk management, covering all types of risk, and considers some of the risks facing schools.

The final two sections clarify the roles and provide practical guidance on implementation and key aspects of the suggested risk management process.

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Financial Risk and Control

538.36 KB | Updated: May 21, 2012 | 0 downloads | Login to download

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