Lee Parks Shares Internal Control Insights in CentrAL INC! Article
Lee Parks, CPA, a Member in the Audit Division of the firm’s Montgomery accounting and advisory office, contributed an article to a recent issue of CentrAL INC!
CentrAL INC! is a bimonthly publication that covers pertinent topics, trends and concerns that impact businesses in Montgomery and surrounding counties.
In his article, Lessons Learned From the Field: Strengthening Internal Controls in Higher Education, Lee shares how colleges and universities can better navigate financial pressures, compliance requirements and new technologies by maintaining strong internal controls. He explains that effective controls help institutions protect resources, make informed decisions and stay prepared for change.
Lee encourages leaders to regularly review risks and update controls as systems, staffing and operations evolve. He also emphasizes the importance of clear documentation, which can improve consistency and strengthen oversight across the institution.
The article also highlights the growing impact of AI and automation in higher education. Lee notes that a strong culture of accountability can help institutions take advantage of new technologies while reducing risk and maintaining proper oversight.
Lee says: “Strong internal controls are not just about satisfying an audit requirement. They are part of how an institution protects its resources, supports better decisions and stays prepared for the future.”
Lee Parks joined the firm in 1997 and is the leader of the firm’s Public Sector Practice Group. He specializes in planning and conducting audits for clients in a wide range of industries, including manufacturing, governmental and nonprofit organizations. He also has extensive experience working with clients subject to the Single Audit requirements and those complying with the Governmental Accounting Standards Board.
Warren Averett’s Public Sector Practice Group provides comprehensive and customized consulting services to clients. The firm’s experts know that nonprofit, government and education clients have complex needs that require a specialized approach, and they are committed to helping clients meet their requirements and needs.
Learn more about Lee Parks and our Montgomery CPAs and advisors.
Read the full article on CentrAL INC!’s website here.