RISK MANAGEMENT AND INTERNAL CONTROL ELEMENTS OF EDUCATIONAL INSTITUTIONS

Abstract

Risk management is an essential strategic tool based on sound corporate governance principles. Management enables management and decision-making in planning, strategy formulation, monitoring and measuring performance, and using resources more appropriately and efficiently. Reduce losses and opportunities that cause damage to the organization. This article studies relevant documents and research on educational institutions' risk management and internal control elements. The results showed that there are five elements of internal control for educational institutions: 1) control environment, 2) risk assessment, 3) control activities, 4) information and communication, and 5) monitoring activities.