18 Virtual Brochure – February 2024 integration, a lack of process automation, aging platforms, and unsupported software. As noted in our EU risk briefing, there is also a general lack of coverage of risk exposures from artificial intelligence (AI). Governing bodies and committees should consider if digital estates risks and mitigations are adequately captured and treated. Office for Students: This year we have disaggregated risks relating to OfS compliance from other legal and regulatory risks. As in 2022 we note the risk of non-compliance with regulatory conditions is frequently cited, albeit having middle-ranking average inherent and residual risk scores. Whereas last year a number of institutions cited this as an increasing risk, only one in our sample does so this year suggesting a growing confidence with demonstrating compliance. This is backed up by our audit and assurance work with institutions. Notably, in institutions’ risk commentary there are growing concerns about the cost of resourcing and complying with existing and additional conditions of registration, echoing the finding of the Moorhouse Report. Institutions may wish to ensure that compliance activities are not over engineered. We can help We would welcome your feedback on the usefulness of this briefing, and if there are any themes where you’d like further information or may need support, please get in touch. Helen Thorne – Senior Audit and Risk Consultant – hthorne@unaic.co.uk Paddy Marshall – Associate Director - pmarshall@unaic.co.uk
RkJQdWJsaXNoZXIy NTI5NzM=