Enterprise Risk Management is a structured, consistent and continuous process, which through the use of different tools for identification, evaluation, measurement and reporting of events will help ensure efficiency in the risk management process. While Risk Management has focused primarily on for-profit corporations and organizations, little attention has been given to its application in non-profit organizations such as foundations. Over the years, the operational objectives of NGOs have been related to the economic and social development of disadvantaged sectors of society. However, one cannot ignore the fact that these types of institutions are also exposed to risks similar to those affecting for-profit companies. For the evaluation and improvement of the internal control of foundations, this case study applies to Enterprise Risk Management, which will allow the identification of those events that prevent the achievement of the objectives related to the nature of operation, as well as the establishment of policies and procedures for the efficient administration of resources, through the management, minimization or elimination of intentional or unintentional errors that could occur in the course of the organization's operations.
|Translated title of the contribution
|Business Risk Management Evaluation and Improvement of Internal Control of Foundations. Case study
|Editorial Universitaria Abya-Yala
|Number of pages
|Published - 1 Feb 2016
CACES Knowledge Areas
- 314A Administration