Enterprise risk management

Secretary Treasurer Nicole Bittante noted at the Board of Education meeting on Tuesday evening that as part of the Watson Advisory Report it was recommended that the district complete a risk management report. “The Office of the Auditor General has also recommended that all school districts in B.C. conduct an Enterprise Risk Management (ERM) assessment.”

Last year, the school district engaged KPMG to complete an Enterprise Risk Management Assessment. The assessment was designed to help the district identify significant risks, prioritize the risks, and implement appropriate risk mitigation strategies and monitoring procedures.

A summary report was provided to the Senior Leadership Team and the Official Trustee in August and can be viewed here – School District No. 83 ERM Summary Report

“The Senior Leadership Team met in April to review the results of the assessment, and to assign ownership of the key risks to the appropriate members of management. The team will work to develop processes to continually identify, measure and monitor key risks and controls, and will report on the status of the risks to the Board on a regular basis,” reported Bittante.

“I’m very impressed with how far we’ve come,” said McKay. “I think if KPMG came in now it would be a different result. I think we are moving in a good direction, and I particularly appreciate the assigning of lead responsibility for each risk.”

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