Independent Schools Victoria Compliance Framework

Information on corporate governance standards.

Risk Management process

Please scroll to the bottom of the page for contacts and links

Do you need to comply?

Yes, a risk management process should be adopted for many aspects of your school's operation.

Conditions of compliance

Risk is anything that may impede a school in the achievement of its objectives.

Risk is measured in terms of consequences and likelihood (AS/NZS ISO 31000:2009 Risk Management Principles & Guidelines).

If you have to comply, what do you have to do?

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 4360 provides useful directions on how effective risk management can be implemented.

What are the consequences if you don't comply?

Your school may not achieve its goals, targets and priorities.

Who will help you?

Independent Schools Victoria contact:

Peter Roberts
Director, School Services
Ph. 03 9825 7211
peter.roberts@independentschools.vic.edu.au

Independent Schools Victoria documents:

Click here to download a presentation on "Risk Management Process" (PDF 22KB • password required)

Click here to go to the Independent Schools Victoria Governance Guidelines • Compliance and Risk Management

Click here to download the Independent Schools Victoria /Willis "Risk Management Framework for Schools" (PDF 754KB • password required)

Other links:

DEECD: Victorian Government Schools Reference Guide Section 6.14 "Risk Management"

Standards Australia website • you can purchase AS/NZS 31000:2009 Risk Management Principles & Guidelines

Submitted 4/27/2007, edited 7/15/2008.