Accounting Practices: Do You Have an Effective Internal Control Program?

One of the most important roles of a family office is that of family risk manager.  There are many risks facing wealthy families and family offices should establish and maintain an effective risk management and internal control processes.  View this program to learn why internal controls are important and what should be included in a risk management and internal control program.  What are some common deficiencies uncovered during internal control assessments?  How can you ensure effective organizational performance management and accountability? Listen in to hear real case examples and stories that illustrate best practices pertaining to internal control programs.

After viewing this webinar you will be able to:

• Articulate different types of controls and critical process for family offices
• Identify how today’s technologies impacts the control environment
• Recognize common deficiencies within internal control programs

This program explores types of controls and critical process for family offices.

The purpose of control processes is to support the organization in the management of risks and the achievement of its established and communicated objectives. The control processes are expected to ensure financial information is complete and accurate, operations are operating effectively and achieving its objectives, assets are safeguarded, and management is promptly taking actions or making decisions based on laws and company’s policies and procedures.