Three Key Takeaways for Evaluating Your Internal Controls
Marisa Zuskar, Chris Steele, Amanda Ferguson
When looking at your institution's internal controls, the Uniform Guidance (UG) and the 2016 Office of Management and Budget (OMB) updates to Part 6 play a key role. In Huron's recent webinar, experts broke down Part 6 and discussed how you can better evaluate your institution's internal controls structure.
Three key points to consider include:
1. Every institution is different, so know what works for your unique environment.
2. Is there a balance between the benefits costs of the controls?
3. Create a "culture of compliance" throughout your institution.
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