From the Editor’s Files: Ink and Toner Scams
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.
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.
Each year a financial audit of the University is conducted by the North Carolina Office of the State Auditor. The state auditors will be on site beginning Sept. 4 for their work as part of the financial audit of the fiscal year ending June 30, 2018.
On January 29, The News & Observer published an article about Appalachian State University’s financial loss caused by scammers who falsified vendor banking information in a money laundering scheme: http://digital.olivesoftware.com/Olive/ODN/NewsAndObserver/default.aspx
To tighten our own policies, Finance Procedure 1218.1, Determining Vendor Documentation, has been updated to include how changes to vendor bank accounts should be reported to Disbursement Services through Campus Vendor.
To: MOU Financial Leads From: Beth McAndrew, Director of Financial Reporting & Management Services The Financial Reporting department of the University Controller’s Office is responsible for compiling unrelated business income revenue and expenses each fiscal year for inclusion on the … Continued
Each year a financial audit of the University is conducted by the NC Office of the State Auditor. The state auditors will be on site beginning August 25 for their work as part of the financial audit of the fiscal year ending June 30, 2017.
To: MOU Financial Leads, University Business Managers From: Brian Smith, Asst. Vice Chancellor for Finance and Accounting As we continue to move toward data-driven operations, Finance and Accounting is changing how we approach internal controls organizationally. Effective immediately, Internal Controls Accountant Rod … Continued
Internal Controls are good for you, good for the University and frankly just good business. They assist us every day in achieving our operating, financial and compliance objectives.