VA Briefing 78 – Creating a Financial Risk Policy

While earlier in briefing 72, we looked at risk management in a general sense, this briefing looks a step further at financial risk – one of the most important areas to consider. It focusses on what is meant by financial risk, how to identify risks, estimate their probability and potential consequences, and how to take action against risks. It also looks at how to draw up appropriate financial policies to reduce risks, including the importance of reserves.

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This Briefing was published in March 2004. The content and resources were applicable at the time of going to press. Much of the information contained in Briefings is generic but some facts and contacts details may change and /or go out of date. You are therefore advised to double check the currency of the content in this document.