Office of University Audit
The Office of Audit provides audit and advisory services to the University community by assessing risks, analyzing controls, and ensuring that business practices are effective, efficient, and compliant with University and regulatory policies.
- "Subsidiary Ledger Management and Internal Controls " (Click link to view pdf file). Revised June 2010. A critical component of the University’s internal control environment over financial transactions is the departmental subsidiary ledger activities of analyzing, reviewing and reconciling transactions in a timely manner. There are limited preventative (or “front-end”) internal controls for the processing of revenue and expenditure transactions due to the technological limitations of the University’s financial systems, as well as the decentralized University environment. Furthermore, within the initiating departments (at the “back-end”), there is no single internal control that would detect incorrect, unauthorized or inappropriate transactions. Rather there is a set of controls working together to mitigate risk to acceptable levels. The purpose of this document is to: define key internal control terminology, recommend internal control procedures, and provide detailed written guidance for all departments and sub-units regarding subsidiary ledger management and internal control procedures. An important first step to implement ledger controls is to perform an
"Account Inventory and Self-Analysis Worksheet " (Click link to view file).
Members of OUA are available to discuss internal controls, including those presented in this document.
View the PowerPoint presentation Continuous Learning for Administrators of Sponsored Programs (CLASP).
Click here for the Control Self Assessment for Petty Cash Funds questionnaire.
Click here for the Flowcast Segregation of Duties Guidelines.
Maintained by the Office of University Audit
Last Updated 05/29/2009
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