Risk management guidance

There is a great deal of risk management related guidance available generally and it is impractical to list all of this here. Consequently, we have restricted our view to guidance that is quite specific to the HE sector. This includes a downloadable self-assessment checklist usable by auditors to review risk management in their own institution.

HEFCE publications:

Circular letter 16/2008 - Accounts direction for 2008-09
This includes direction on statements of risk management and internal control.
Risk Management - a briefing for governors and senior managers (HEFCE 2001/24)
A short briefing on risk management for governors and senior managers.
Guide for Members of Higher Education Governing Bodies in the UK (HEFCE 2004/40)
Good practice guidance contributed by the Committee of University Chairmen.
Risk management - a guide to good practice for higher education institutions (HEFCE 2001/28)
A guide to good practice for higher education institutions. This is a practical guide aimed at those involved in planning, launching and implementing a risk management programme.
Risk management in higher education: a guide to good practice (HEFCE 2005/11)
Good practice in the higher education sector and elsewhere, provides practical guidance to higher education institutions on enhancing and embedding their risk management processes. It complements earlier guidance published by HEFCE.
Handbook for Members of Audit Committees in Higher Education Institutions
This guide shares current good practice and encourages its appropriate adoption across the higher education sector.

Supporting materials

Illustrative case studies, a list of typical risks faced by higher education institutions, a sample risk management policy, and a checklist for assessing the risk management arrangements in institutions.

HEFCE's approach to risk management

HEFCE's approach to risk management, including our monitoring and review procedures, and the roles and responsibilities relating to risk within the Council, is described in our Assurance Framework.

Other web sites of general interest:

(HEFCE is not responsible for the content of other websites)

The Association of Local Authority Risk Managers
ALARM exists to assist, advise and represent public sector organisations in the development of risk management strategies.
HM Treasury
The Treasury has a key role in helping embed risk management throughout government and the public sector.
Institute of Risk Management
This professional body has an insurance focus in its work on risk management. It, together with others, has published a risk management standard, which can be downloaded from the IRM website.