Supporting innovation: Managing risk in government departments

As the external auditor of government departments the National Audit Office
support well managed risk taking intended to result in tangible benefits for taxpayers.
This report is intended to help promote improvements in risk management by
departments by identifying examples of good practice from both the public and the
private sector. The report sets out (i) why risk management is important; (ii) how
well risk management is understood and implemented by departments, agencies
and non departmental public bodies (NDPBs) ? collectively referred to as
?departments?; and (iii) what more needs to be done to improve risk management.