RISKS MANAGEMENT IS A CONSEQUENCE OF MANAGERIAL INTERNAL CONTROL IN UNIVERSITIES

• Main Author: MEDAR LUCIAN-ION
• Format: Article
• Language: English
• Published: Academica Brâncuşi 2014-05-01
• Series: Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie
• Subjects: risk culture; risk assessment; risk management strategy
• Online Access: http://www.utgjiu.ro/revista/ec/pdf/2014_Special/73_Medar.pdf

Risks Management in universities is a function that depends on a number of internal and external factors of higher education institutions. Risks are recorded and analyzed by those who exercise a managerial functions. These can be grouped into a first form, in system risks, operational risks and market risks. System risks have emerged as a result of legislative changes. Market risks are as a consequence of the non correlation of educational system with labor market. And operational risks are most evident and are operative highlight by the management of university structures. These risks can be identified, measured, monitored and controlled to avoid cause damage. Inherent risks that are not properly treated, can be turn into residual risks that may negatively influence the way of achieving the goals. Among these, there is the significant risks with significant impact on economic and reputational situation of higher education institutions. Risks Management in universities is a consequence of managerial internal control and involves several distinct stages well established by specific procedures. In this paradigm, establishment of control strategies and risk management are very important