family offices - governance, risk & assurance
TRANSCRIPT
Governance, Risk & Assurance PREC ISE . PROVEN. PERFORMANCE .
Governance, risk & assurance for family offices
Governance, risk & assurance for family offices
of our clients, however we have helped our
clients with:
• expert reviews of their corporate
governance framework, board
effectiveness and structure;
• training board members on their
obligations in respect of governance,
or in specific technical areas;
• designing management information
frameworks to support the strategic,
tactical and operational needs of
their organisation;
• understanding whether committee
structures and the delegation of authority
are proportionate and effective;
• ensuring they have appropriate
assurance frameworks in place to
provide comfort on the effectiveness
of their governance structure.
Internal auditOur expert-led internal audit adds value
by offering an experienced, independent
and authoritative perspective on how you
are governing, managing and controlling
your risks. Since we value expertise and
experience over form-filling, we also help
your management team by offering practical
solutions to complex problems.
Good corporate governance, risk
management and independent assurance
are of particular interest to family offices.
In a sector where trust and reputation are
so important, owners, clients and investors
all have an interest in making sure the
organisations they deal with are well
governed, run and controlled.
At Moore Stephens we take pride in
having built an expert team that can
quickly help you implement, develop,
improve and assure your governance, risk
and control environments. We specialise
in international, multi-jurisdictional and
innovative approaches – and would love to
share our experience with you. Our current
assignments range from providing expert
help a few days each quarter, where
we work with our client to understand
and manage their risk, through to fully
outsourced internal audit plans.
Corporate governanceGood governance is more than meeting
regulatory requirements and complying
with the basic requirements of best
practice. We strive to go one step further
and achieve improved performance in
any business that we work with by helping
you identify and address weaknesses in your
governance approach. All of our services are
tailored to the situation and specific needs
2 Governance, risk & assurance
Our services include:
• fully outsourced internal audits, where
we design and run your internal audit
service for you;
• co-sourced services, where we provide
an experienced hand or an expert skill
(such as IT audit) to your existing internal
audit team;
• quality assurance assessments
and reviews, to ensure you meet
industry standards;
• training and mentoring, to share our
experience and help you build your
in-house capability.
Risk managementEvery business faces risks that could present
threats to its success. In a dynamic sector with
changing regulation and rapid technological
advancement, balancing these risks with
the opportunity presented is a challenge.
At Moore Stephens, our sector-specific
approach guarantees that we help you
identify and fully understand the risks that
affect your business, and then implement
the right controls to address them. We
have a diverse team of international experts
in risk management that enjoy helping
clients embed effective, proportionate and
innovative risk management.
We can:
• run ‘risk scenarios’, interactive and
iterative exploration of what could go
wrong, what this could mean to you and
how best to manage the risk;
• review your risk management as an
investor, stakeholder or regulator would,
to help offer an early warning of issues
others might see;
• work with you to develop, embed and
adapt a risk management approach that
proportionate, effective and sensitive to
your culture;
• explore the emerging regulatory, legal
and operational challenges you’ll face
in the coming years and whether you are
well placed to manage these.
Expert servicesThe challenges you face don’t always fit into
neat categories. Our services are the same.
We invest heavily in our industry horizon
scanning and innovate to build solutions to
emerging risks or challenges that you face.
Some of the expert services we are actively
working with our clients on are:
Cyber and information security
We can help educate, train, test or
even run your information and cyber
security programme.
Real time assurance
As offices become more technologically
capable, there is also a growing demand
for more timely assurance that matches
management’s need for real-time data.
We can help implement this process and
design appropriate and useful reporting.
Custodian benchmarking
There have been notable enforcement
actions on major custodian banks, and
security vulnerabilities at others over recent
years. Therefore, there remains a challenge
in maintaining trust through the custodian
and, in particular the sub-custodian
network. We have significant experience
in meeting these organisations and can
benchmark your custodian against others
in the industry.
Investment assurance
Family offices invest in a range of
asset types but they can sometimes lack
the depth of specialist skills or resources
to ensure their money is being invested
wisely. With our expertise in this field we
can provide the support to ensure that your
concerns are diminished.
3Governance, risk & assurance
Moore Stephens in the UK Moore Stephens is the UK’s 9th largest
independent accounting and consulting
network, comprising over 1,700 partners and
staff in 39 locations.
Our objective is simple: to be viewed by
clients as the first point-of-contact for all their
financial, advisory and compliance needs. We
achieve this by providing sensible advice and
tailored solutions to help clients achieve their
commercial and personal goals.
Clients have access to a range of core and
specialist services including audit and tax
compliance, business and personal tax, trust
and estate planning, wealth management, IT
consultancy, governance and risk, business
support and outsourcing, corporate finance,
restructuring & insolvency and forensic
accounting.
Our success stems from our industry focus,
which enables us to provide an innovative and
personal service to our clients in our niche
markets. Specialist sectors include charities
& not-for-profit, construction, education,
energy & mining, family offices, financial
services, healthcare, hotels & leisure, insurance,
pensions, professional practices, public sector,
real estate, shipping, social housing, sports and
technology & media.
Moore Stephens globally Moore Stephens International Limited is a
global accountancy and consulting network,
headquartered in London.
With fees of US$2.7 billion and offices in 103
countries, you can be confident that we have
access to the resources and capabilities to meet
your needs. Moore Stephens International
independent member firms share common
values: integrity, personal service, quality,
knowledge and a global view.
By combining local expertise and experience
with the breadth of our UK and worldwide
networks, clients can be confident that,
whatever their requirement, Moore Stephens
will provide the right solution to their local,
national and international needs.
Contact informationIf you would like further information on any item within this
brochure, or information on our services please contact:
Steve Williams – Partner
Steve is a leader in the information security industry and has
been a chief information security officer in the Financial Services
industry. Steve has helped several family offices implement
thematic reviews, regular controls assurance and advised on
straight-through processing (STP) risks (including ISAE3000).
Steve has directed public reports on behalf of the UK Financial
Services Authority (now FCA) and the UK National Audit Office.
Steve is also an active participant in the development of
standards in digital, technology risk management and security.
He has worked in senior positions within ISACA, ICAEW and
with BSI/ISO to advise on the development of standards.
Alex Traill – Director
With 12 years experience working with family offices,
Alex advises on issues such as risk management, performance
measurement, internal control over financial reporting,
financial reporting under IFRS and US GAAP, valuation and
custody benchmarking.
Alex has helped clients establish robust control environments
and often assists management in their monitoring and
testing to ensure clear, transparent and responsible reporting.
Alex has an accounting background and has worked as an
external auditor, so has the ability to see things from the client’s
perspective rather than an outsider looking in.
Moore Stephens LLP, 150 Aldersgate Street, London EC1A 4AB T +44 (0)20 7334 9191www.moorestephens.co.uk
We believe the information contained herein to be correct at the time of going to press, but we cannot accept any responsibility for any loss occasioned to any person as a result of action or refraining from action as a result of any item herein. Printed and published by © Moore Stephens LLP, a member firm of Moore Stephens International Limited, a worldwide network of independent firms. Moore Stephens LLP is registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Authorised and regulated by the Financial Conduct Authority for investment business. DPS29233 September 2015
Moore Stephens in the UK Moore Stephens is the UK’s 9th largest
independent accounting and consulting
network, comprising over 1,700 partners and
staff in 39 locations.
Our objective is simple: to be viewed by
clients as the first point-of-contact for all
their financial, advisory and compliance needs.
We achieve this by providing sensible advice
and tailored solutions to help clients achieve
their commercial and personal goals.
Clients have access to a range of core and
specialist services including audit and tax
compliance, business and personal tax, trust
and estate planning, wealth management,
IT consultancy, governance and risk,
business support and outsourcing, corporate
finance, restructuring & insolvency and
forensic accounting.
Our success stems from our industry focus,
which enables us to provide an innovative
and personal service to our clients in our niche
markets. Specialist sectors include charities &
not-for-profit, construction, education, energy
& mining, family offices, financial services,
healthcare, hotels & leisure, insurance,
pensions, professional practices, public sector,
real estate, shipping, social housing, sports and
technology & media.
Moore Stephens globally Moore Stephens International Limited is a
global accountancy and consulting network,
headquartered in London.
With fees of US$2.7 billion and offices in
103 countries, you can be confident that we
have access to the resources and capabilities
to meet your needs. Moore Stephens
International independent member firms
share common values: integrity, personal
service, quality, knowledge and a global view.
By combining local expertise and experience
with the breadth of our UK and worldwide
networks, clients can be confident that,
whatever their requirement, Moore Stephens
will provide the right solution to their local,
national and international needs.