Risky business
Ernese Skinner highlights some of the key areas of risk management...
At CFDG’s recent risk conference members were given the latest best practice on risk management with guidance on how to ensure it is more than just a paper exercise. Risk management is becoming increasingly important to the sector and our recent joint survey with PKF highlighted that 59 per cent of respondents put aspects of embedding risk management top of their list of concerns. So why is it so important? Risk management should be looked at as an opportunity to help manage the organisation better (see also Pesh Framjee's article, 'Value protection and value creation' in Caritas, issue 2, January 2008). A better understanding of risks and how to manage them should lead to fewer control failures, increased likelihood of achieving objectives, not missing opportunities and improved stakeholder management.
Author: Ernese Skinner
Ernese Skinner is policy and campaings manager at CFDG. She has moved into the charity sector from the Office of Government Commerce, an independent office of HM Treasury.
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