Collegiate and Auxiliary Budget Officers
Financial Sub-Certification > > Policies, Resource Links, and Control Documents > >
Session 2 -- Finance, Accounting, and Audit Compliance
(printable pdf version of this session)
Does the college/unit require staff with fiscal responsibilities to attend relevant financial systems and processes training offered by Finance & Operations?
Related Policy
- Educational Opportunities (Operations Manual)
Related Training and Resources
- Business Process Series (core courses)
- Overview of AP/PO Reports, Query Tools and Data
- Overview of GL, Grant Accounting & Cumulative Compensation Reports & Data (Training)
- General Ledger Journal Entry (Training)
- Web CV & Pay CV Correcting Journal Entries (Training)
- Introduction to UI Accounting Code (Training
- Introduction to UI Accounting Reports
- Getting to Know Grant Accounting
- E-Deposit Training (Training)
- ProTrav Training (Training)
- Procure to Pay Training (Training)
- Procurement Card Training (Training)
- Traveling on UI-Related Business (Training)
Control Documents
- Updated job descriptions indicating that specific training is required
- Self Service "My Training" records
Does the college/unit have processes and monitoring activities in place to ensure compliance with the University's Cash Handling Policy?
Related Policies
- Cash and Credit Card Receipts (Operations Manual)
- Cash Handling Policy (website)
- Credit Card Handling Policy (website)
Related Training and Resources
- Cash Handling online course (available through ICON)
- E-Deposit online course (available through ICON)
- E-Deposit Training (Training)
- Cash Handling (website)
- Payment Card Industry (PCI) Data Security Standards (pdf)
Control Documents
- Approved local cash handlling procedures
- Documented completion of Cash Handling training course for appropriate employees (ICON)
- Payment Card Merchant Agreement form
- Annual Security Self Assessment
- Job descriptions which support duties as described in local procedures
Does the college/unit submit the required information to Financial Management to ensure compliance with the Service Center Policy? This may include the submittal of financial statements, amounts billed to federal grants & contracts, total volume of activity and the calculation of proposed billing rates for the upcoming year.
Related Policies
- Recharge Centers (Operations Manual)
- Recharge Centers Policy (website)
Related Training and Resources
- Recharge Centers Responsibilities & Procedures (website)
- Recharge Centers FAQs (website)
- Unrelated Business Income Taxes (UI website)
- Unrelated Business Income Taxes (IRS website)
Control Documents
- Written request for the establishment of recharge center
- Annual rate analysis
Does the college/unit communicate guidelines for reporting material financial risks, issues, errors, etc. to senior administrators within the college and to the Controller?
Related Policies
- No existing policy
Related Training and Resources
- Unit Senior Fiscal Officer
- Controller's Office
- SkillSoft Course: Principles of Financial Management , Course Number: FIN0151
- SkillSoft Course: Financial Risk Management , Course Number: FIN0216
Control Documents
- Regular recurring meetings with appropriate staff for the purpose of financial review (control document might be schedule of quarterly meetings, agenda, minutes, etc.)
- Communication to staff (i.e., memo) indicatng what process to follow for reporting financial errors, problems, etc.
- Other documents (audit issues log)
Has the college/unit addressed and resolved outstanding internal and external audit issues?
Related Policies
- Internal Audits Policy (Operations Manual)
Related Training and Resources
- Internal Audit (website)
- Controller's Office (website)
- Auditor of State (website)
- SkillSoft Course - Introduction to Auditing No. FIN0231
- SkillSoft Course - Introduction to Internal Auditing No. FIN0216
- SkillSoft Course - Introduction to External Auditing No. FIN0234
Control Documents
- Documentation of response to auditors and central administration descsribing the resolution of audit issue
- Documentation of process changes
Does the college/unit perform review of transactions appearing in its general ledger reports to internal source documents on a monthly basis?
Related Policies
- Monthly Review of Transactions Policy
Related Training and Resources
- Accounting Services
- SkillSoft Course: Accounting Fundamentals, Course Number: FIN0121
- SkillSoft Book: Accounting for Non-Accountants—The Fast and Easy Way to Learn the Basics, ISBN: 1402206577
Control Documents
- Transaction reports (SA3 & TDS)
- Supporting documentation (sub-system reports, analysis, correspondence, etc.)
- Documentation of review of detail transaction reports (notes, annotations, worksheets, etc.)
- Documented communication with Account Owner (email)