Higher Education Risk Dictionary displays a collection of risks and controls in
functional areas commonly found in higher education.
To see a more comprehensive list, go to www.todayscampus.com/articles/load.aspx?art=1724
Auxiliary Enterprise • Shortage of trained procedures. • Failure to fund Physical Plant
Service Center Risks personnel • Inability to produce proper levels of
reports to grantor academic support • Law Enforcement
• Copyright Financial agencies directly • Lack of facilities Risks
infringement Management from the fi nancial (classroom/ • Failure to control
• Failure to Financial accounting system. lab/other) crowds at events
properly collect Operations Risks • Inadequate • Poor scheduling • Failure to respond
and account for documentation practices leading to timely & correctly
sales taxes • Improper calcula- of expenses. sub-optimal use of • Physical assault
• No cost/benefi t tion and refunding classrooms, etc. or rape
analysis performed of tuition and fees Financial
on service center • Breach of student Management Information • Inadequate
operations confi dentiality laws Financial Technology training of staff
• Failure to log Reporting Risks Strategic Planning and • Destruction of
Auxiliary checks as they Organization Risks property
Enterprises are received • Inaccurate or untimely • Outdated
Bookstore Risks • Failure to ensure financial reports (IRS, • Business require- equipment
physical security Legislature, System, ments and infor-
• Management of business offi ce GASB, etc.) mation technology Research
override operations • Insuffi cient grant opportunities are & Development
• Unavailable and contract not adequately
textbooks Financial infrastructure considered • Intellectual property
• Bookstore inad- Management • Financial state- • Failure to maintain and tech transfer
equately stocked Grants Accounting ments do not a motivated and risks
• Robbery of cashiers Risks refl ect general competent • Lack of policies and
• Unauthorized ledger entries. workforce. training on intel-
departmental • Inability to enforce • Failure to set lectual property or
charge backs grants policies and Institutional project priorities technology transfer
Support and deliver sys-
Endowment and tems on time and Student Services
Development Risks within budget. Health Services Risks
Some key planning points
• Failure to market
Who’s in charge of planning?
• Inability to generate technology • Failure to safeguard
What are all the risks?
new donations initiatives confi dential
How might we identify unidentified risks?
• Inadequate event information
resources Information • Failure to obtain
For each identifi ed risk …
• Lack of appropriate Technology proper licensing
What is the likelihood of occurrence?
safety & security Administrative and accreditation
Are we familiar with this risk? If so, what
measures Support Risks • Failure to communi-
have we learned?
• Risk of alienating cate health services
If not, with whom can we consult?
a segment of • No monitoring information
Who’s in charge during an incident, and
constituents of contractor
why?
Source: Association of College and University
performance
Auditors and Texas A&M University
What is the expected duration?
Instructional and • Failure to follow
What resources will be needed during?
Tom Robinson
Academic Support contracted-services
What outcome(s) is (are) paramount?
is editor of
Academic procurement
What resources will be needed after?
Today’s
Support Risks process
Campus.
12
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