As part of URMIA’s strategic planning efforts, a relationship has been building with the Association of College and University Auditors (ACUA) to strengthen our appreciation for our disciplines. A memorandum of understanding (MOU) was signed between URMIA and ACUA to be part of the ACUA Midyear Conference in Austin, Texas, on March 26-29, 2017. The Midyear Conference is designed as a 2.5-day intensive course in which participants select one of five or more tracks on which to focus. Tracks typically focus on topics such as fraud, compliance, audit essentials, information technology or training on audit software. Thanks to our partnerships, this year's tracks will include 10 breakout sessions on higher education risk management.

Registration is now open. The early bird ACUA and URMIA member rate will start at $775.

About the ACUA/URMIA risk management track: Understanding the risk management function in higher education

Course description: College and university risk management professionals, like internal auditors, must navigate the length and breadth of their organizations so that the institutions can safely and effectively achieve their education and research missions. How does the risk manager go about delivering a sound risk management program? Where do risk management and internal audit interests intersect? What are the trademarks of an effective program?

This course will provide a broad risk management foundation of information and resources that will help address common risk problems and issues that could arise on campus. Internal audit and risk management both build their programs on an assessment of the risk that could adversely affect institutions of higher education. The range of activities in which educational institutions engage creates an array of risks which is wider than found in most other industries. Lists of identified risks often exceed 100 issues. How does risk management then go about addressing the risks? How does that approach differ from internal audit, and what should expected outcomes be? 

Topics will include:

• Risk management basics (categories of risk and enterprise risk management)
• Risk assessment (risk inventory and prioritizing risks)
• Areas of risk in higher education (athletics and recreational facilities, automobiles, environmental health and safety, international programs and travel, student issues, minors on campus)
• Risk mitigation
• Financing risk and insurance (total cost of risk, insurance, purchasing insurance, property insurance – valuation and protection)
• Risks and contracts (contract management, contractual risk transfer, contractual risk control, contract law)
• Regulatory compliance
• Managing incidents and claims

Upon completion of this course, participants will be able to:

• Demonstrate an understanding of the role and responsibilities of the risk management function.
• Identify the common areas that internal audit and risk can partner on, especially risk assessment and risk mitigation.
• Understand the importance of internal control with respect to risk management and an understanding of how to communicate controls that non-auditors can easily understand.

Again, please consider attending or sending staff members who would benefit from this comprehensive 2.5 days of higher education risk management. Look for registration information at the ACUA website.

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