Internal Control and Risk Management System in University Libraries: Applications, Techniques and Limitations

Internal control and risk management system play an essential role in ensuring objective achievement of organizations and mitigating possible risks that hinder an organization from achieving its objective. Therefore, the aim of this paper centered on internal control system and risks management in university libraries with respect to application, techniques and limitations to effective internal control and risk management. The paper discovered and analyzed applicable risks to university libraries including: financial risks, research risks, academic affairs risks, information technologies risk, human resources risks and risks and safety matters. The paper concluded that effective internal control and risk management system can influence the effectiveness of university libraries.