Information on corporate governance standards.
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Yes, a risk management process should be adopted for many aspects of your school’s operation.
Risk is anything that may impede a school in the achievement of its objectives.
Risk is measured in terms of consequences and likelihood (AS ISO 31000:2018 - Risk Management - Guidelines).
Schools, through a Risk Management Policy, should establish a comprehensive system of risk management, risk oversight, compliance, and internal control
The policy should set the risk tolerance for the school, approve the risk management framework, and monitor its effectiveness.
The Australian Standard AS ISO 31000:2018 provides useful directions on how effective risk management can be implemented.
Your school may not achieve its goals, targets and priorities.
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