Australian Standards for Risk Management

Standards Australia have released a risk management handbook "Guide for managing risk in not-for-profit organisations" (HB 266:2010 ).This book is available from SAI Global Limited.

Used in conjunction with the Australian and New Zealand Standard AS/NZS ISO 31000:2009 for Risk Management, the handbook provides:

The handbook has sections on:

About risk management reporting

The Australian Standards for Risk Management provide assistance on the documeting of risks including assumptions, methods, information sources and results.

The reasons for risk managment reporting are as follows:

  1. To demonstrate the process is conducted properly.
  2. To provide a record of risks.
  3. To provide the relevant decision makers with a risk management plan for approval and subsequent implementation.
  4. To provide an accountability mechanism and tool.
  5. To facilitate continuing monitoring and review
  6. To provide an audit trail; and
  7. To share and communicate information

Types of Risk Management Reporting

The documentation required to be maintained should be stated in the risk management policy. Documentation should included:

  1. The Risk Management Policy that includes the processes and procedures by which the organisation identifies, manages and monitors risks.
  2. A statement by the management committee of how the organisation is complying with the Australian Standard for Risk Management
  3. The register of risks
  4. Risk treatment schedule and action plan
  5. Records and results of risk monitoring processes and procedures carried out
  6. Documents showing the outcomes of audits including details of follow actions taken.

Compliance by Sport Organisation

Sport and recreation organisations are largely run by volunteers. This has an impact on the ability of the organisation to comply with Australian Standards for Risk Management. Nevertheless risk management must be a very high priority for the management committee. It may take some time for the management committee to develop appropriate systems, procedures and practices for risk management. Therefore a process of continuous improvement (taking a number of small steps) should be undertaken. The best strategy is to make risk management a permanent agenda item at committee meetings. This will go a long way to ensuring that progress is made and that the diligence of the management committee is not called into question.


Copyright and Disclaimer | About the author Leo Isaac | Email Webmaster


Event Operations Manual
Software for Club Treasurers
how to create a financial model