A team of employees were evaluating costs for their organization – they noticed a spike in inventory over the past couple of years. So, what was the driver? They narrowed their findings and found that the increased costs were related to transmission parts, truck batteries and tires. Because the organization specialized in long haul truck repairs, it wasn’t unusual for this business to carry a larger inventory of those items.
Why Speed and Training Matters Rod Smith, Director of Internal Controls The Association of Certified Fraud Examiners (ACFE) annually publishes their Report to the Nations https://www.acfe.com/report-to-the-nations/2020/ – this is a global study on occupational fraud and abuse. In the Report, … Continued
by Rod Smith, Director of Internal Controls Have you ever noticed how organized and clutter-free banker offices are? A clerk usually has a computer monitor on their desk, a telephone and possibly a calendar. Sometimes, you will see an occasional … Continued
Internal controls come in all kinds of shapes and sizes. For example, training, awareness, and reporting all have an element of control embedded in them. When we’re tasked to do something, we have an obligation to ensure that it’s done … Continued
This month, I’m sharing a story about business intelligence (BI). It’s easy to get caught up in just processing business transactions and not think about the stories they’re telling, but there’s so much valuable data that we capture that can … Continued
By Rod Smith An employee received notice that their organization was about to be audited. The auditors provided a list of items to be pulled and have available upon their arrival. As the employee was pulling the requested items, she … Continued
While working remotely, the Vendor Coordinator team is noticing an uptick in the number of ACH requests for new and existing vendors. This is good from an efficiency and cost-saving perspective.
The past couple of months have not been easy. Moreover, we’re having to operate a little differently, but I know UNC is capable of adapting to change and doing great things. Unfortunately, and during times like these, scams abound — … Continued
I’m aware that everyone is reading through a lot of information these days and that you’re having to adjust to doing business a new way, so I will be succinct. I want to remind folks to not let your guard … Continued
