Control Self-Assessment Workshop - Internal Control Questionnaires Appendix M: Gifts, Grants, and Contracts Internal Control Questionnaire Que stion Ye s No N/A Do procedures exist to ensure that differences bet ween gifts, grants and contract are recognized, and that the appropriate accounts are properly established in UFAS? Has the unit developed its own criteria for the approval of grant and contract proposals, to include, at a minimum, the University’s criteria? Has the unit developed its own criteria for the acceptance of gifts, to include, at a minimum, the University’s criteria? Do procedures ensure that expendit ures from restricted gift accounts comply with the donor’s intent ? Are all expenditures, including payroll expenses, incurred under a grant agreement or contract reviewed for allowability by the principal investigator or another individual with suitable means of verific ation? Does the unit have a procedure to ensure that all potential matching fund requi rements are met? Are there procedures to ensure that all technical and progress reports are prepared by employees directly involved wit h the grant program or contract and submitted to the sponsor or contractor in accordance with the terms of the agreement ? Does the unit award subgrants/subcontracts to other organizations only on the basis or properly completed and approved sub-award proposals filed in a timely manner? Are disbursements to subgrantees/subcontractees approved by management and based only on properly completed reports or billings submitted in a timely manner? Do procedures require the monitoring of subgrantees/subcontractees, and is appropriate corrective action taken to address material problems and abuses prior to the final payment of subgrant/subcont ract funds? Does your department have all its grants and contracts on file at the Grant and Contract Office, with proper approvals? Appendix N: Budgeting and Accounting Internal Control Questionnaire Que stion Ye s No N/A Are written accounting, policy, and procedural manuals regularly updated and distributed to appropriat e personnel? Is a current copy of the University’s Manual for Business and Finance; General Policy and Guidelines available to the staff with responsibility for the key business activities? Have Approval A uthorization forms or signature cards approved by the University been reviewed periodically to ensure that authority to initiate or approve accounting transactions, contract, receiving reports, Standard Time Reports and employment authorizations are limited to appropriate personnel? Is signature authority promptly revoked when the employee leaves the unit or significantly changes job duties? Are large expenditures for purc hases, travel, etc., obligated ahead of time to ensure budgeted funds are available? Is a system in place to provide appropriat e management with explanations of significant variations between budgeted and actual financial status? On a monthly basis, are UFAS statements reconciled to unit copies of trans action documents? If the Unit maintains a separate accounting system, is it reconciled to UFAS each month? Are UFAS reconciliations reviewed by the unit head, and is action taken to correct errors and ans wer questions? Are anticipat ed fund deficits reported to the appropriat e level of University management on a timely basis? Appendix O: Cash Receipts Internal Control Questionnaire Que stion Ye s No N/A Have procedures been developed which specify how the unit is to comply with University requirements regarding the receipt, rec ording, safeguarding, deposit, and reconciliation of receipts? (Receipts include cash, checks, and credit card transactions.) Are cash receipts physically safeguarded against theft and loss? Are prenumbered or cash register receipts promptly issued to individuals for in -person payments? Are customers instructed to make the checks payable to the University of Illin ois? Are all checks promptly restrictively endorsed for deposit only to the University of Illinois? Are receipts deposited in accordance with University policy (i.e., at least weekly, or when $200 or more has accumulated)? Are receipts deposited intact, with no cash ret ained or ex pended? Are cash shortages identified and analyzed to det ermine if corrective action is necessary? Does an individual independent of the person who deposits the funds verify that the validated report of cash received (returned from Cashiering) agrees to the unit’s record? Appendix P: Electronic Data Processing Internal Control Questionnaire Que stion Ye s No N/A Does a business continuation plan exist which identifies critical activities, contains plans for continued operations for short and long term emergencies, and identifies the location of backup files, programs, and documentation, as well as alternative processing sites? Are copies of operating systems, critical data, and key software programs made periodically and stored in an off-site location. Is access to computer terminals and equipment limited to authorized personnel? Is sensitive data protected by restricted access or other cont rols? If student dat a is maintained on unit computers, is security over the data sufficient to ensure compliance with the Family Educational Right to Privacy Act (FERPA)? Appendix Q: Expenditures (Non-Payroll) Internal Control Questionnaire Que stion Ye s No N/A Has the unit developed written proc edures regarding the initiation, review, and approval of all non-payroll expenditures? Are all expenditure transactions and related vouchers independently reviewed for completeness, accuracy, and compliance with Unive rsity policies, and agreement to supporting documentation before being approved? Are procedures in place to ensure that UFAS statements are reviewed by an individual who does not approved vouchers and requisitions? Are there procedures in place to prevent or detect duplicate payments to vendors, or payment for material not received? Are vendor invoices checked for accuracy and agreed to purchas e orders, contract terms, receiving reports, etc. ensure proper payment? Do procedures ensure that the person who benefits from an expenditure does not approve the voucher? Appendix R: Inventory Internal Control Questionnaire Que stion Ye s No N/A Have written procedures been developed regarding the receipt, storage, and issuance of, and the accounting for, merchandise inventory ? Are inventories physically safeguarded from unauthorized access and physical deterioration? Are all reductions of invent ory supported by appropriate documentation (e.g., requisition, sales document)? Are all additions to inventory supported by appropriat e documentation (e. g., receiving report)? Are inventory records maint ained by individuals who do not have access to the inventory ? Is the inventory counted periodically and reconciled to inventory records? Are discrepancies between the records and physical counts documented and brought to the attention of appropriate management and the employee responsible for inventory records? Are discrepancies between the records and physical counts appropriately investigated, and rec ords adjusted? Are inventory records reconciled (and differences explained) to UFAS accounts on an regular basis? Appendix S: Moveable Equipment Internal Control Questionnaire Que stion Ye s No N/A Does the unit conduct periodic equipment inventory counts are required by University policy? Is University equipment properly tagged and identified? Are there added safeguards on easily stolen equipment? Are Property Accounting System (PAS) records reviewed to ensure that all additions, disposals, or thefts are properly recorded? Are Property Accounting System records updated to reflect changes in condition and availability of equipment? Appendix T: Organization and Management Internal Control Questionnaire Que stion Ye s No N/A Has the responsibility for achieving objectives been assigned and documented? Have the lines of authority and responsibility been clearly communicated throughout the unit? Do written procedures exist for systems that are critical to the operations of the unit? Has unit management developed a system or proc edures for communicating expectations and for coordinating efforts between offices, programs, and staf f members (e.g., staff or management meetings, newsletters, memorandums)? Are reports that summarize activities, programs, transactions, and financial status reviewed by unit management on a regular basis? Have procedures been implemented in the unit to verify the accuracy of data in management and monit oring reports? Have measurement criteria been developed to assess progress toward objectives specified in planning and budget documents? Appendix U: Personnel and Payroll Internal Control Questionnaire Que stion Ye s No N/A Does the unit maintain personnel files that include current job descriptions and performance appraisals? Are procedures in place to ensure compliance with the University’s Conflict of Interest policy? Have procedures been established to record the usage of employee benefit time (e. g., sick leave, vacation, other leave) for Academic and Staff employees? Are attendance records reviewed by management so that excessive absences are dealt with properly? For non-exempt employees (those eligible for overtime pay) do procedures exist to ensure that overtime and other non-standard work hours are appropriate and approved in advance by an employee’s supervisor? Are the reports that provide the det ails of the payroll amounts charged to the unit’s accounts (Payroll Account Distribution Vouchers) reviewed and compared to a copy of the approved Standard Time Report (and any approved Time Report Adjustments, if applicable) by someone who did not prepare the Standard Time Report? Appendix V: Petty Cash Internal Control Questionnaire Que stion Ye s No N/A Have the unit’s petty cash funds been authorized by the Office of Business Affairs? Are petty cash funds used only for appropri ate purposes that are supported by receipts signed by the person making the expenditure? Is the fund periodically counted by someone ot her than the custodian and who is not under the control of the custodian? Appendix W: Purchasing and Leasing Internal Control Questionnaire Que stion Ye s No N/A Have procedures been developed to determine, prior to placing the requisition, whet her the purchase is appropriate for the UFAS account to be charged? When preparing a Departmental Purchase Order (DP O), do proc edures exist to ensure that the best combination of quality, total price, and delivery is obtained? Are the persons responsible for approving the requisitioning of goods and/or negotiating cont ract separate from those involved in reconciling UFAS statements? Are procedures in place to prevent multiple purchases that are intended to circumvent bid or approval limitations? Do procedures exist to ensure to all goods rec eived are accurately counted and examined to se that they meet quality standards and fulfill the requirements of the purchase order? Are procedures in effect the require the person rec eiving goods or servic es to document the receipt by signing the invoice or receiving report? Are the persons responsible for receiving and inspecting goods received separate from those responsible for requisitioning goods or initiating accounting transactions? Are written contracts used for all professional and artistic services? Do procedures exist to review billings for contractors for compliance with the contract prior to making payments? Do procedures exist to insure that the leasing of equipment does not exceed the cost of purchasing and maintaining similar equipment? Appendix X: Revenue Internal Control Questionnaire Question Ye s No N/A Have written procedures been developed regarding the recording and reconciliation of revenue generating transactions? Is the dispensing of all goods and services recorded? Are sales records reconciled to appropriate accounting entries. Does unit management review data showing trends regarding sales, cash receipts, etc.? Do procedures exist to ensure that pric es of goods and services are adequate to recover all direct and indirect costs? Are all appropriate taxes charged? Appendix Y: Accounts Receivable Internal Control Questionnaire Que stion Ye s No N/A Has the unit received permission from the Office of Business Affairs to maintain a separate accounts receivable system? Have written procedures been developed regarding the recording and reconciliation of receivables, payments, and other credit adjustments? Are duties related to accounts receivable delegated so that no one individual c an collect funds, update receivable rec ords, and reconcile accounts receivable details to UFAS? Do procedures exist to ensure that all refunds and adjustments are documented and authorized? Is the total of departmental accounts receivable outstanding reconciled to UFAS periodically? Are account billings issued at least monthly, or as required by contract or ot her agreement? Are accounts rec eivable aged regularly, with older accounts receiving appropriat e follow-up. Do procedures exist which are intended to provide assurance that collection and write-off of delinquent accounts is in compliance with the University’s policy? Does unit management review data showing trends regarding the status of receivable balances and take corrective action when required?
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