This month, I want to share information on data analytics and business intelligence, two topics that are emerging as critical in the world of internal controls. Ironically, they’ve always been available to us, but with all the advances in technology, … Continued
Category: Internal Controls News
I was invited to give a presentation and assist a group with strengthening their system and controls, specifically their reimbursement process. So, I researched their organization and their policies, and while meeting with them, invited one of the team members … Continued
I attended a Certified Professional Education (CPE) conference out-of-state. My group’s assigned topics evolved around data privacy and data security. As we shared introductions, I recognized that some folks in our group spoke interchangeably of the two. However, data security … Continued
This month, I would like to discuss preventing fraud versus detecting it. Organizations often have an overreliance on detection versus prevention. While the first method is good, it’s often very time consuming, costly, and sometimes, it’s a little too late. … Continued
Rod Smith’s October column for Internal Controls
So, here’s a question for you: Can you quickly and accurately define intellectual property? Do all of our students, faculty, staff and support services know the definition to this question? Likewise, what is the definition of sensitive information? What controls do you have in place to secure and protect sensitive information?
In the spirit of students returning to class, I encourage department leaders to take time out for a meaningful staff meeting that provides an opportunity for employees to learn.
Rod Smith’s column for the June 2019 Internal Controls
The ink and toner scammers are at it again, and the best way to prevent these schemes is to be better informed on how they work.
Whoever authorizes the purchase of a transaction should not be the same person who executes the transaction, records the purchase and then provides the sole review and approval of such transaction.