“…There are studies that deal with governance and risks in public universities (da Costa, Leal, do Nascimento, de Mendonça, & Guerra, 2018;Heinz, Alves, Roratto, & Dias, 2019;Lima , Souza, Zambra, & Silva, 2019;Sousa, Finati, Perez, & Duarte, 2018), however, there are many gaps that must be filled, including the need to assess risks with the potential to compromise the institution's strategy. Thus, empirical studies on the subject should be advanced, considering the particularities of University Management.…”