Risk Reviews

Risk Review Process

The Risk Review Process gives ‘life’ to the policies and job description components. The Risk Review and Risk Reports address 80 risk factors and are certified semi-annually by the administrative officer and the controller or bookkeeper. These reports should take one to two hours to complete. Generally, distribution is to the chairperson and treasurer and may include other directors, if the board so chooses.


Benefits of a recurring program of risk reviews are:
  • Assures senior management review of all major policies, semi-annually
  • Trains administrative staff to recognize major fraud and operational exposures
  • Alerts administrative staff and board to emerging problems
  • Maintains focus on IRS Form 990 Guidelines
  • Assures donors and funding agencies that a strong business infrastructure is in place and in use
  • Supports agency Human Resources Policies by addressing key HR exposures

Format & Guide

Format for Risk Reports is a checklist of positive affirmations - one for each major policy. If an affirmation is not entirely correct as presented on the Risk Report, then a correcting explanation is inserted on the line beneath, in red type.

A "Risk Report Explanation Guide" is provided to detail the specific reasons why each affirmation is important and needed. This tool makes the Risk Report easily understandable by all.

Program Addresses

This Program Addresses Potential Operational Risks As Well As Potential Fraud Risks. Operational Losses Can Threaten An Agency’s Sustainability Just As Dramatically As Fraud Losses. And, Dollars Lost Are Also Dollars Intended For Mission.