A simple best practice guide for making governance and risk management disclosures by governing boards and senior managers

A central objective of the project, therefore, was to identify, develop and disseminate ‘best risk management and governance disclosure practice guide’ to be used not only within the UK HE sector, but also governors, councillors, senior managers and trustees of all types (e.g., private, public, sciences, humanities, religious, liberal, new, old, large and small) HEIs around the world. It is within this context that this simple and easy to use best practice guide or toolkit for making governance and risk management disclosures in HEIs has been prepared from the larger project report prepared for the LFHE entitled: “Governance and Risk Disclosure Practices in UK Higher Education Institutions in an Era of Austerity and Reform”. Both the governance and risk management framework presented were developed based on extensive review of best practice risk management and governance documents, related prior studies and actual or current practices of 117 UK HEIs over a six year period (i.e., 2009 to 2014 inclusive). Specifically, the study sought to: (i) develop and investigate the level of compliance with, and disclosure of, good recommendations contained in the HE risk management guidance documents relating to best risk management practices in UK HEIs; and (ii) develop and investigate the level of compliance with, and disclosure of, good recommendations contained in the HE good governance codes (guidance documents) relating to best governance practices in UK HEIs