5573.docx - ERM adoption and implementation in the higher education environment differ from the for-profit environment International universities often

5573.docx - ERM adoption and implementation in the higher...

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ERM adoption and implementation in the higher education environment differ from the for-profit environment International universities often face increased scrutiny mainly regarding their research, business decisions, information security, investment, the response to, prevention of, and different types of scandals, either seen or unforeseen. The volume, verities, and the types of risks that affect learning institutions are therefore numerous, establishing the reason why the public has taken notice of the measures that may be used in addressing these risks. However, those outside the higher education respond to these challenges in varied ways. For instance, accreditation agencies mainly demand that institutions of higher learning provide measures and evidences regarding the integrated decision-making and planning approaches. On the other hand, governments in Australia, England and other nations have demands regarding the integration of
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Unformatted text preview: risk management approaches in an effort directed towards receiving funding. Besides this, credit rating institutions require the provision of evidence on the integrated and progressive risk management plans with the intent of ensuring that there is a positive credit rating that may be provided to the board of trustees involved in the management of risks as part and parcel of the decision-making process (McDonald, 2012). Through the College and Universities Compliance Project, it is essential to note that the Internal Revenue Service takes consideration of measures that may be used in holding the board responsible oversight on the risks, risk management measures, and the investment decisions that the institutions need to make. Reference McDonald, C. (2012). “Enterprise” Approach to Risk Management Dominates Courses, Research at Universities. National Underwriter / P&C , 116 (3), 20–21....
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