Internal Controls Start with Control Objectives
Welcome to an ERISA Sunscreen moment!
When designing internal controls for an employee benefit plan or any other entity for that matter, it’s always a good idea to start with control objective in mind.
To develop an internal control, the developer should start by thinking about the transaction being evaluated and consider all the ways in which an error, whether unintentional or intentional, can occur related to that transaction.
Watch this week’s ERISA Sunscreen video for examples and to learn more.
