A report and survey into the risk management practices in the not-for-profit (NFP) sector found that many NFPs have poor or non-existent risk management strategies.
Advisory firm PPB conducted the survey amongst 291 NFP organisations operating throughout Australia and New Zealand.
Key findings of the survey include:
- 49 per cent of respondents do not have, or do not know if they have, an up-to-date risk management plan
- Approximately 25 per cent believe that risk management is of only moderate importance
- 61 per cent of respondents state that risk to their organisation has increased over the past five years.
The survey also found that members of organisations which are effectively managing risk believed that their organisation was more profitable and transparent. Third Sector Magazine
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