Over many years, organizations develop standards and guidelines to help them create their internal control environment. While there may be some differences in the standards and guidelines they adopt, organizations strive to institute a control framework that promotes ethical and equitable asset management while being operationally efficient and transparent. As with any business, operational risks and inefficiencies can threaten their ability to achieve success. The College’s ability to take advantage of opportunities while effectively mitigating operational risks has a significant impact on our ability to remain financially sustainable.
By the end of this workshop, participants will have had the opportunity to:
- Understand the College’s Internal Control Framework;
- Discuss Generally Accepted Accounting Principles (GAAP);
- Explore the concept of operating with Financial Integrity; and
- Identify where they can find support when faced with difficult financial decisions.