Internal Control Responsibility:
We all contribute to the University's internal control system. Management is ultimately responsible for proper internal controls. This responsibility is delegated from the President to the Vice Presidents to the Deans to the Department Heads and to faculty and staff. Any weakness in this structure can create a weakness in our internal control system. If problems are noticed, employees should communicate their concerns to their supervisors. Internal Auditing should be contacted for any assistance desired.
Internal Controls:
Strong internal controls provide reasonable assurance that:
- Assets are properly safeguarded
- Policies, procedures, and laws are complied with
- Operations are run effectively and efficiently
- Financial information is reliable
Internal Control Video and Handbook:
This 20 minute video defines what internal control is, its five interrelated components, and it gives examples of breakdowns in control. It is interesting and skits are provided. It includes more than just your typical auditing and accounting terminology. It shows that internal controls include many different areas. It addresses what the results are of poor internal controls. It stresses that internal control is effected by people functioning at every level of the institution. The handbook explains in detail the five interrelated components of internal control. It also provides an excellent summary and self evaluation. We have six copies of the video and handbook available for departments to check out. Please contact our office to receive a copy. We encourage you to watch the video and review the handbook. |
