Internal Controls

Annual Self-Assessment of Internal Controls Over Financial Reporting

Each year this assessment is prepared according to the prescribed method of controls testing developed by UNC System Office of Compliance and Audit Services.

Self-Assessments

The Internal Controls Self-Assessment were developed as multipurpose tools to assess a unit’s compliance with internal controls. Selected departments will be asked to complete this self-assessment as part of the University-wide compliance testing program.

Departments should also use these self-assessments as guides for managing important financial controls within their units. We encourage you to review these documents periodically to assess your unit’s compliance with proper internal controls.

• Internal Controls Self-Assessment
• Internal Controls Self Assessment for Imprest Checking (Bank) Accounts

Based on a risk assessment or request, identified processes are reviewed, documented and the designed controls tested.

Business Compliance Program (formerly UNC FIT)

The UNC System internal controls program encompasses the development of standards, key performance indicators and monitoring of such while serving to meet the Office of the State Controller and legislative requirements of an internal controls program.

Personnel are available to conduct presentations that provide internal controls education and updates on recent developments. Training modules, self-assessments, resource listings and other materials are accessible directly from their website. Periodically, webinars are made available that qualify for continuing professional education (CPE).

• Essential Points of Internal Controls
• Internal Controls Process
• Posters
  • Internal Controls: Five Components, 17 Principles
  • COSO Internal Control—Integrated Framework Principles 4×4
  • COSO Internal Control—Integrated Framework Principles 11×17

Audit Finding Remediation

Responding to and resolving audit findings. In conjunction with Internal Audit and the appropriate business owner, Internal Controls ensures that satisfactory plans are in place to address outstanding audit findings and follow for remediation within a timely basis.

UNC-CH Finance & Infrastructure Audit Committee

• Policy 104 – Misuse of University Property or Funds
• NC State Auditor – report fraud, waste or abuse
• Carolina Ethics Line
• UNC-CH P-Card Fraud or Abuse

• CERTIFI (Compliant Electronic Receipt Transactions Through Innovation & Financial Integrity)
• UNC-CH Data Security Breach Protocol
• University Committee on the Protection of Personal Data (UCPPD)

• Association of Certified Fraud Examiners (ACFE)
• Association of College and University Auditors (ACUA)
• American Institute of Certified Public Accountants (AICPA)
• Committee of Sponsoring Organizations of the Treadway Commission (COSO)
• Governmental Accounting Standards Board (GASB)
• Institute of Internal Auditors (IIA)
• Information Systems Audit and Control Association (ISACA)
• The Institute for Internal Controls (IIC)

• Enhancing Accountability in Government Through Leadership and Education (EAGLE)
• NC Office of the State Auditor
• NC Office of the State Controller

Mission

Our mission is to cultivate a culture of strong financial control and compliance throughout the University.

Vision

Internal Controls envisions itself as a valued leader in higher education for assessments, documentation and testing of controls and processes as they serve to ensure the accuracy and integrity of the University’s financial reports

Statement of Ethics