[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-595340-105":59,"doc-detail-595340-en":130},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":123,"head_meta":125,"extra_data":127,"updated_unix":129},105,"en","asset-management-and-risk-assessment","Asset management and risk assessment","","Asset management and risk assessment in universities are addressed through the need to adopt better practices, especially after amalgamations increased asset values. The text explains how risk should be treated as a vital management activity, requiring systems to identify risk and its impact. Annual system appraisals and analysis of the control environment help balance the cost of controls against the risks they mitigate. It also notes how financial standards in most states require acceptable risk levels set against management needs.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/asset-management-and-risk-assessment/595340/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/asset-management-and-risk-assessment/595340.png","ImageObject",300,407,{"name":92,"@type":93},"Blitz","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-30","2026-10-15",true,{"@type":102,"interactionType":103,"userInteractionCount":81},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"Why is risk management a concern for universities adopting better practices?","Question",{"text":112,"@type":113},"Universities face increased asset values after amalgamations, and losses or inefficiencies can occur if systems do not identify risk and its impact. Risk management is therefore treated as a vital activity.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"How can universities assess their exposure to risks?",{"text":117,"@type":113},"The text states that annual system appraisals can be used to assess current exposure to risks, supported by analysis of the control environment.",{"name":119,"@type":110,"acceptedAnswer":120},"What balance must universities achieve when setting controls?",{"text":121,"@type":113},"Financial standards require a balance between the cost of controls and the level of risk they mitigate, ensuring risks are limited to an acceptable level for 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ofgood management in any contemporaryorganisation.In any case,a failure to acknowledge such obligationswill assuredly lead to amuch more systematic focus onouroperations,not only by the agencies of executive govemment,but also by publicwatchdogs such as anti-corruption agencies and auditors-general.Therecent report ofthe WAAuditor-General relating to the compliancebyuniversity staff in that State with relevant university policy in respectof consultancy activities and rights of private practice is but the mostobvious current example.  \nA focus on improving budget and financial management will affectuniversities not only in global terms.It may also involve,at a detailedlevel,a careful assessment ofthe wayin which resources are allocatedfor teaching and research activities.That may be very difficult for thesystem to accept,but overseas experience suggests that we shouldprepare ourselves for such debatesFor example,the way in whichinfomation technology and communications are transforming theteaching and learning environment,together with the pressures formassification ofthe student population and the requirement to managewith less resources,will lead collectively to the identification orreformulation of the various performance measures that are in use.Forexample,overrecent years much stronger emphasishas been placed onindicators such as graduation andprogression rates,building occupan-cyrates,research output measures,and productivity measuresfor staff.On the other hand,in the future much less emphasis is likely to beplaced on the importance of staff:student ratios in our academicplanning.It may well be that staff:student ratios will,in the future,beexamined alongside the costs of offering course units.  \nExperience to date with relative funding models suggests that theprospect of moving in such a direction might not be welcomed,andundoubtedly regardedas anotherexampleofmanagerialismencroach-ing into the sector.But it also might provide a very useful guide interms of the consumption of resources as between undergraduate andpostgraduate teaching.  \nA systematic focus onidentifying better ways ofallocating resourc-es and planning future needs could also lead to more serious attemptsto share resources across insticutions.While the difficulties of suchresource-sharing are acknowledged,the frequent unwillingness ofinstitutions to grapple with this challenge is,perhaps,surprising.Probably the most obvious case in point,and one which bears directlyon students and the overall quality of thelearning environment,is thereluctance by many universities to cooperate with other institutions interms of thcir library collections.  \nThis reluctance to cooperate derives in part from the competitiveenvironment which is being encouraged.In turn,this raises the issueof the relevance of market competition in an environment where thegovemment has an interest in seeing strategic collaboration andeconomy in the use of system-wide resources.  \nA systematic focus on resource allocationis also likely to lead moreinstitutions to seriously analyse the possihilities of contracting-outcertain of those services eurrently operated interually.In terms of thisissue,bowever,the mixed experience of the hroader public sectorneeds to be carefully considered.  \n# Asset management and risk assessment\n\nA particular area for concern for universities as they seek to adoptbetter practices is that of risk managemcnt.Since the amalgamationsof the last decade some universities have experieneed a quantumleapin their asset values.Usually,a series of steps are designed to protectan organisation from unnecessary eosts and losses.The managementof 'risk'thus shouldbe a vital activity in any organisation.Substantiallosses includinginefficiencies can he incurred ifadequate systems arenot established to identify risk and its impact.In th","cbCaijP0yJAG6hFM","https://ap.wps.com/l/cbCaijP0yJAG6hFM","pdf",428544,"English","# Asset management and risk assessment\n## The regulatory framework","[{\"question\":\"Why is risk management a concern for universities adopting better practices?\",\"answer\":\"Universities face increased asset values after amalgamations, and losses or inefficiencies can occur if systems do not identify risk and its impact. Risk management is therefore treated as a vital activity.\"},{\"question\":\"How can universities assess their exposure to risks?\",\"answer\":\"The text states that annual system appraisals can be used to assess current exposure to risks, supported by analysis of the control environment.\"},{\"question\":\"What balance must universities achieve when setting controls?\",\"answer\":\"Financial standards require a balance between the cost of controls and the level of risk they mitigate, ensuring risks are limited to an acceptable level for management.\"}]","Asset management and risk assessment | PDF"]