Risk assessment as a professional discipline and risk management in public institutions

Eralda ALHYSA, Fabiola LLAKA & Arjana LLESHAJ
Risk assessment, risk management – has been transformed into an independent professional discipline. It brings its theories and principles, which are very important to be understood and taken into account during the implementation of the Risk Assessment. In public institutions risk assessment and management has a specific importance and is carried out by hierarchical levels of work and control and is monitored by specific financial control structures. However, in our country the process of risk assessment and monitoring still remains part of control and audit, especially in the public sector, so it has not reached the level of an independent professional discipline. The lack of this specific profile leaves space for the question we can naturally do: “Why do not arrive public institutions to be effective and why them do not manage the risk in many situations? Why we may not use in practice recommendations done by relevant competent structures to measure the risk and manage it? This paper first aims to provide a reflection of the process of risk assessment and management in public institutions in our country, focusing on ways of evaluation, management and control from the hierarchy and auditors.