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.

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 … Read more

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.