InternalControlsRASG Jan192005 000

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Published on January 28, 2008

Author: Massimo

Source: authorstream.com

INTERNAL CONTROLS and UNC-CHAPEL HILL:  INTERNAL CONTROLS and UNC-CHAPEL HILL Stan Koziol, CPA ADMINISTRATIVE OFFICE BUILDING (AOB):  ADMINISTRATIVE OFFICE BUILDING (AOB) INTERNAL CONTROLS BUNKER BELOW THE AOB:  INTERNAL CONTROLS BUNKER BELOW THE AOB Internal Control is a:  Internal Control is a Process, effected by an entity’s board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories: CATEGORIES:  CATEGORIES Effectiveness and efficiency of operations Reliability of financial reporting Compliance with applicable laws and regulations TOPICS:  TOPICS Buzz Words & Phrases Review Internal Control Initiatives BUZZ WORDS & PHRASES:  BUZZ WORDS & PHRASES SOX Sarbanes-Oxley Act of 2002 SARBANES OXLEY ACT of 2002:  SARBANES OXLEY ACT of 2002 Enacted on July 30, 2002 In Response to Major Corporate and Accounting Scandals Applies to Companies Registered with the SEC Does Not Apply to Not-For-Profit Entities SARBANES OXLEY ACT of 2002:  SARBANES OXLEY ACT of 2002 ENRON:  ENRON WHO IS RESPOSIBLE ?:  WHO IS RESPOSIBLE ? GET THE SHREDDER !:  GET THE SHREDDER ! WHAT HAPPENED ?:  WHAT HAPPENED ? BUZZ WORDS & PHRASES:  BUZZ WORDS & PHRASES SOX NACUBO Advisory Report 2003-3 BUZZ WORDS & PHRASES:  BUZZ WORDS & PHRASES SOX NACUBO Advisory Report 2003-3 Guidance and Best Practices BUZZ WORDS & PHRASES:  BUZZ WORDS & PHRASES SOX NACUBO Advisory Report 2003-3 Guidance and Best Practices Did You See Today’s Newspaper? BUZZ WORDS & PHRASES:  BUZZ WORDS & PHRASES SOX NACUBO Advisory Report 2003-3 Guidance and Best Practices Did You See Today’s Newspaper? Tone at the Top BUZZ WORDS & PHRASES:  BUZZ WORDS & PHRASES SOX NACUBO Advisory Report 2003-3 Guidance and Best Practices Did You See Today’s Newspaper? Tone at the Top Hotline / Whistle Blower BUZZ WORDS & PHRASES:  BUZZ WORDS & PHRASES SOX NACUBO Advisory Report 2003-3 Guidance and Best Practices Did You See Today’s Newspaper? Tone at the Top Hotline Sub-Certification BUZZ WORDS & PHRASES:  BUZZ WORDS & PHRASES SOX NACUBO Advisory Report 2003-3 Guidance and Best Practices Did You See Today’s Newspaper? Tone at the Top Hotline Sub-Certification Cascade Effect CASCADE EFFECT:  CASCADE EFFECT Risk that some states will pass their own version of Sarbanes-Oxley for smaller, privately held companies and not-for-profits. AICPA formed the Special Committee on State Regulation. UNC CHAPEL HILL INITIATIVES:  UNC CHAPEL HILL INITIATIVES Establish the “Tone at the Top” UNC CHAPEL HILL INITIATIVES:  UNC CHAPEL HILL INITIATIVES Establish the “Tone at the Top” Dedicate a Full Time Position UNC CHAPEL HILL INITIATIVES:  UNC CHAPEL HILL INITIATIVES Establish the “Tone at the Top” Dedicate a Full Time Position Implement “Best Practices” UNC CHAPEL HILL INITIATIVES:  UNC CHAPEL HILL INITIATIVES Establish the “Tone at the Top” Dedicate a Full Time Position Implement “Best Practices” Ethics New Ethics Statement Applying Ethics to Your Job Code of Conduct Ethics Training UNC CHAPEL HILL INITIATIVES:  UNC CHAPEL HILL INITIATIVES Hotline & Financial Controls Website UNC CHAPEL HILL INITIATIVES:  UNC CHAPEL HILL INITIATIVES Hotline & Financial Controls Website University Enterprise Risk Management Advisory Committee UNC CHAPEL HILL INITIATIVES:  UNC CHAPEL HILL INITIATIVES Hotline & Internal Controls Website University Enterprise Risk Management Advisory Committee Internal Control Self Assessment UNC CHAPEL HILL INITIATIVES:  UNC CHAPEL HILL INITIATIVES Hotline & Internal Controls Website University Enterprise Risk Management Advisory Committee Internal Control Self Assessment Audit and Finance Committee Charter UNC CHAPEL HILL INITIATIVES:  UNC CHAPEL HILL INITIATIVES Hotline & Internal Controls Website University Enterprise Risk Management Advisory Committee Internal Control Self Assessment Audit and Finance Committee Charter Enhanced Data Analysis UNC CHAPEL HILL INITIATIVES:  UNC CHAPEL HILL INITIATIVES Hotline & Internal Controls Website University Enterprise Risk Management Advisory Committee Internal Control Self Assessment Audit and Finance Committee Charter Enhanced Data Analysis Sub-Certification IN CONCLUSION:  IN CONCLUSION Integrity & Public Trust Positioned to be #1 Funding Attractive Bond Ratings Excellence in Financial Reporting Award from GFOA SELF ASSESSMENTS:  SELF ASSESSMENTS Thank you for all the suggestions! SELF ASSESSMENTS:  SELF ASSESSMENTS Thank you for all the suggestions! Written disaster plan SELF ASSESSMENTS:  SELF ASSESSMENTS Thank you for all the suggestions! Written disaster plan Segregation of duties SELF ASSESSMENTS:  SELF ASSESSMENTS Thank you for all the suggestions! Written disaster plan Segregation of duties Equipment inventory list Internal Control is a:  Internal Control is a Process, effected by an entity’s board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories: THANK YOU !:  THANK YOU !

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