We have reported regularly through our Value for Money audit programme that more effective risk management would enable departments to be better informed in their decisions, have a greater likelihood of meeting their aims and objectives, and help them to avoid costly mistakes.

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By examining current practice in government and the private sector we have developed six principles of risk management. By following our six principles, organisations can move their risk management arrangements from a process-led approach to one which supports the efficient and effective delivery of services.

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