Internal Control Process at Geneseo. Objectives Understand the objectives of effective internal controls Describe Geneseo’s internal control program Accurately.

Slides:

Advertisements

Similar presentations

MONITORING OF SUBGRANTEES

Advertisements

Museum Presentation Intermuseum Conservation Association.

An Internal Control Overview

Chapter 7 Control and AIS Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall 7-1.

Environmental Management System (EMS)

Receiving a Performance Audit Steven P. McKerney, CPA Director of Internal Audit Washington State Department of Transportation Association of Government.

Internal Audit Awareness

Development of internal control: methodology and responsibility

Internal Control.

1 INTERNAL CONTROLS A PRACTICAL GUIDE TO HELP ENSURE FINANCIAL INTEGRITY.

OMB Circular A-123 – Management’s Responsibility for Internal Control Policy Applicability Sources of Information Assessment, Documentation and Reporting.

Chapter 7 Control and AIS Copyright © 2012 Pearson Education, Inc. publishing as Prentice Hall 7-1.

Internal Control Concepts A Guide for Deans, Directors, and Department Chairs.

Internal Control. COSO’s Framework Committee of Sponsoring Organizations 1992 issued a white paper on internal control Since this time, this framework.

Internal Control. COSO’s Framework Committee of Sponsoring Organizations 1992 issued a white paper on internal control Since this time, this framework.

Chapter 4 IDENTIFYING RISKS AND CONTROLS IN BUSINESS PROCESSES.

ClASS MODULES: BREAKOUT SESSIONS. ClASS FINANCIAL MODULE.

Central Piedmont Community College Internal Audit _____________________________ What to Expect When You Are Audited November 2014.

Presented By: Donna Denker, CPA Donna Denker & Associates.

Achieving our mission Presented to Line Staff. INTERNAL CONTROLS What are they?

Buffalo State College Internal Control Program Presented to: Buffalo State College Line Staff Delivered by: BSC IC Program & Department Managers.

INTERNAL CONTROLS. Session Objectives Understand why an organization should have internal controls Understand the key components of internal controls.

Elements of Internal Controls Preventing Fraud, Waste, and Abuse in Urban and Rural Transit Systems.

Internal Auditing and Outsourcing

Central Piedmont Community College Internal Audit.

An Educational Computer Based Training Program CBTCBT.

D-1 McGraw-Hill/Irwin ©2005 by the McGraw-Hill Companies, Inc. All rights reserved. Module D Internal, Governmental, and Fraud Audits “I predict that audit.

Chapter 3 Internal Controls.

UNM and Health System Internal Audit Departments Internal Audit Department Orientation Manu Patel, Internal Audit Director Purvi Mody, Executive Director,

Chapter 7 Preparation for the Audit ACCT620 Internal Auditing Otto Chang Professor of Accounting.

INTERNAL CONTROL OVER FINANCIAL REPORTING

Considering Internal Control

Monitoring Internal Control Systems Johann Rieser Senior Auditor, Ministry of Finance, Vienna.

FISCAL RESPONSIBILITY IN TITLE III AND OTHER SPONSORED PROGRAMS AND GRANTS ADMINISTRATION Presented by Sharon S. Crews, M.Ac., CPA Vice President for Administrative.

Agency Risk Management & Internal Control Standards (ARMICS)

From the Shredded Files of Big Business Assuring safeguards with effective Financial Policies Pam Baker and Ernest Werstler.

Learning Objectives LO5 Illustrate how business risk analysis is used to assess the risk of material misstatement at the financial statement level and.

Chapter 7 Control and AIS. Threats to AIS Natural disasters –DSM flood (p. 249) Political disasters –Terrorism Cyber crime (as opposed to general terrorism)

Institutionalization of Internal Audit in the Philippine Government

Richard F. Chambers, CIA, CGAP Vice President, IIA Learning Center The Institute of Internal Auditors.

Evaluation of Internal Control System. Learning Objective 1 Contrast management’s need for internal control with the auditor’s need to consider internal.

The Audit as a Management Tool Vermont State Auditor’s Office – April 2009.

Webinar for FY 2011 i3 Grantees February 9, 2012 Fiscal Oversight of i3 Grants Erin McHughJames Evans, CPA, CGFM, CGMA Office of Innovation and Improvement.

Preston Alderman MSDE, Director of Audit.  As recipients of federal and state funds we are charged with ensuring that the funds are adequately accounted.

Auditor General1. 2 Role of the Auditor In the Procurement Process Presenter: Nancy Tucker, CPA June 3, 2008.

Management Advisory and Compliance Services Towson University Management Advisory and Compliance Services Internal Controls.

Risk Management & Corporate Governance 1. What is Risk?  Risk arises from uncertainty; but all uncertainties do not carry risk.  Possibility of an unfavorable.

“Integrating Property Management with Emergency Recovery” Ivonne Bachar, CPPM CF Director, Property Management Office Stanford University

College Reviews An Overview Presented by Howard Lutwak, CIA Director of Internal Audit January 2004.

Presented to Managers. INTERNAL CONTROLS are the integration of the activities, plans, attitudes, policies and efforts of the people of an organization.

AUDIT OF INTERNAL CONTROL Day V Sessions I & II. Session Overview Periodical audit of existence of internal control in order to examine its effectiveness.

Purchasing Forum – May The integration of the activities, plans, attitudes, policies, and efforts of the people of an organization working together.

Enhancing the Effectiveness, Efficiency, Transparency, and Accountability of Operations of the Philippine Information Agency through Improvement of Internal.

©2012 Prentice Hall Business Publishing, Auditing 14/e, Arens/Elder/Beasley Section 404 Audits of Internal Control and Control Risk Chapter.

Copyright © 2007 Pearson Education Canada 9-1 Chapter 9: Internal Controls and Control Risk.

Chapter 5 Evaluating the Integrity and Effectiveness of the Client’s Control Systems.

Internal Controls For Municipalities Vermont State Auditor’s Office – August 2008.

What is Internal Audit University of Date. What/Who is Internal Audit? A University department that reports directly to the Board of Regents (BOR) through.

©©2012 Pearson Education, Auditing 14/e, Arens/Elder/Beasley Considering Internal Control Chapter 10.

Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall. Chapter

Developing an Audit Program By Rodney Kocot President Systems Control and Security Incorporated Copyright © 2005 Rodney Kocot.

Lecture 5 Control and AIS Copyright © 2012 Pearson Education 7-1.

SUNY Maritime Internal Control Program. New York State Internal Control Act of 1987 Establish and maintain guidelines for a system of internal controls.

Internal Control and Managing Cash

Policies, Processes, and Practices, Oh My!

Accountability and Internal Controls – Best Practices

Internal Controls Towson University

for the year ended 31 December 2016

INTERNAL CONTROLS AND THE ASSESSMENT OF CONTROL RISK

Developing and Evaluating Processes and Practices

Presentation transcript:

Internal Control Process at Geneseo

Objectives Understand the objectives of effective internal controls Describe Geneseo’s internal control program Accurately complete the Vulnerability Assessment Survey

Why Internal Controls? Achievement of College’s mission Integrity of financial and institutional data Safeguard assets and information Efficiency of programs & operations Compliance with the law Protects You!!

Geneseo Internal Control Systems Legal Rules Physical Custodial Financial Recordkeeping

Geneseo Internal Control Systems General NYS Ed Law, other laws,& regs SUNY Trustees Policies Admin professional handbook Mission statements & operational objectives Policy handbooks & memos Org. charts & decision hierarchies

Geneseo Internal Control Systems Administrative Budget process Chart of accounts Internal audit activity Equipment inventory system Institutional data coordination Risk Management

Geneseo Internal Control Systems People Position descriptions Hiring procedures Workforce & succession planning

Internal Control Review Process Internal Control Committee ICP brochure distributed annually Tone at the top-VP Admin memo Vulnerability Assessment Survey

Internal Control Review Process Internal control program audits Audits by SUNY, NYS & others Risk Management Periodic reports to SUNY & NYS

Vulnerability Assessment Survey IC Committee selects areas for review Ensures controls are in place to help College & Department meet objectives Identifies areas for improvement

Survey Tool includes Management Environment Organizational Structure Personnel Delegation & Communication Authority Policies & Procedures Org. checks & balances Budgeting & Monitoring

Survey Tool includes Procurement Property Control Impact outside College Cash Activities Travel Information Technology Supplies & Materials Documents & Records

Results Internal Control Officer & Coordinator  review  make recommendations IC Committee  evaluates  recommends action

Changes from Prior Year Survey software tool Categories revised Questions clearer & focused on what we do Opportunity to comment Glossary of terms No scoring!

Vulnerability Ranking Low Moderately low Moderately high High

Recommendations for Action No Action Instruct/Train Establish/ Modify Procedure Request IC audit Conduct IC Review Document Procedures Retake Survey Other (define)

Questions & Concerns