Risks and internal control: keys to state public value in Peru

The article "Risks and Internal Control: Keys to State Public Value in Peru" examines the importance of risk management and internal control in Peruvian public entities to strengthen the creation of public value. It emphasizes Law 28716 on Internal Control as a key legal framework that establishes the mandatory implementation of internal control systems in public institutions. These systems allow for the identification, evaluation, and mitigation of risks that could affect the fulfillment of institutional objectives, optimizing decision-making and the efficient use of resources. It also highlights the role of performance audits, conducted by the Comptroller General's Office, as fundamental tools for evaluating the efficiency, transparency, and accountability of public management, ensuring that state resources are used economically, efficiently, and effectively. The article defines public value as citizens' perceptions of the quality and timeliness of state services and applies this concept to five Peruvian ministries (MININTER, MINSA, MINEDU, MTC, and MVCS), identifying the expected public value propositions for each. The results of a survey of 50 professionals reveal widespread dissatisfaction with the quality of public services, management efficiency, transparency, and the institutions' capacity to generate social impact. Respondents perceive those public policies are not adequately addressing citizen needs or generating positive changes in key areas such as education, health, and employment. A conceptual model for improving public value is proposed, based on three pillars: human talent, risk management, and performance audits. This model seeks to strengthen public institutions, improve the efficient use of resources, and generate a positive impact on society. The article concludes that risk management and performance audits are fundamental to improving the efficiency and transparency of public management, which in turn increases public value and social well-being. Furthermore, the importance of investing in the development of human talent in the public sector is highlighted, as a trained and motivated team is essential for designing and implementing effective public policies. Finally, risk management is linked to the national objectives of the National Strategic Development Plan to 2050, emphasizing that an efficient and transparent public administration is crucial for achieving goals such as social well-being, environmental protection, economic growth, and the consolidation of democracy.