Authenticity of Accounting Records

Document Sample
Authenticity of Accounting Records Powered By Docstoc
					                                  State of Washington
                      Department of Community Trade and Economic
                                      Development
                      On- Site Monitoring and Evaluation Guidelines



AGENCY                                                                DATE
PERSON MONITORING
PERIOD OF REVIEW                                      THROUGH




I    AGENCY REVIEW
     a. Agency’s Legal
     Name:


     b. Service Delivery Facilities other than main
     office:


        Location/Address                                 Purpose             Handicap
                                                                             Accessibility
                                                                             Yes No




     c. Type of
     Organization




II   PERSON(S) INTERVIEWED:




                                           1
                  GRANTEE INTERNAL CONTROL DETAIL SHEET

ACTIVITY                               NAME           POSITION/TITLE
1. Approves:
   1.1. Invoice/Vouchers for
        payment
   1.2. Journal entries
   1.3. Petty cash replenishment
   1.4. Petty cash vouchers
   1.5. Payroll for staff
2. Custodian of:
   2.1. Blank checks
   2.2. Mechanical check signer
   2.3. Petty cash fund
   2.4. Undelivered checks
   2.5. Credit Cards
   2.6. Electronic Check signer
3. Accounts for undelivered
   checks
4. Makes deposit in bank account:
   4.1. Cash
   4.2. Checks
   4.3. Prepares deposit slip daily

5. Records receipts in accounting
    system.
6. Records disbursements in book
    of accounts
7. Signs:
    7.1. Checks
    7.2. Receiving documents
8. Prepares:
    8.1. Bank reconciliation’s
    8.2. Monthly trial balance
9. Makes periodic surprise counts
    of petty cash
10. Collects time/attendance
    reports
11. Prepares the checks
12. Certifies payroll for accuracy
    and authenticity of payee
13. Delivers payroll checks to staff
14. Posts leave action to
    cumulative leave record
15. Opens mail
16. Verifies receipt of supplies and
    equipment.
17. Verifies P/O authority.
18. Review time/attendance reports




                                          2
                                          CPU
                                  Fiscal/Administrative
                                   Monitoring Tool 2.O
                                     (Self Assessment)


   FINANCIAL RECORDS              YES or NO               Comments
1. Has a Certified Public
   Accountant (CPA) or State
   Auditor performed annual
   independent audits?

2. Was a copy of these
   audits submitted in a
   timely manner as required
   in the CTED contract?

3. Did the last audit contain
   any findings that pertain to
   CPU?

4. Are written management
   policies and procedures
   kept on file that describe

   Accounts Payable?
   Accounts Receivable?
   Internal Control?
   Purchasing?
   Check Signing Policies?
   Payroll?
   Cash Receipts?
   Unallowable Costs
    Reports?
   Property Management?
   Cost Allocation Plan or
    Indirect Plan?
   Timesheets?
   Travel?

5. Does the agency have a
   cost allocation/ indirect
   plan?

6. Is there a chart of
   accounts?

7. Are signature authorities
   on file?

8. Are accounting records
   supported by source
   documentation?

9. Are accounting records
    reconciled monthly
10. Are in-kind/matching
    contributions verifiable
    from recipient’s records?
                                              3
INSURANCE                         YES or NO       Comments
1. Does a review of records
   show that the contracting
   agency’s liability insurance
   policy is current and on
   file?

2. Does a review of records
   show that the contracting
   agency’s fidelity bond is
   current and on file?




CONTRACTS & VOUCHERS              YES or NO       Comments
1. Is the current contract
   readily available to fiscal,
   personnel, and other
   administrative staff?

2. Does a chart of accounts
   exist to determine
   allocation of expenses
   among programs?

3. Are Vouchers received by
   monthly deadlines?

4. Do vouchers reflect the
   dollar amounts in the most
   current contract/
   amendments?
5. Are submitted vouchers
   signed by authorized
   signatories?




PROCUREMENT                       YES or NO       Comments
1. Is the Procurement
   Process open and
   competitive?


INVENTORY CONTROL                 YES or NO       Comments
1. Property records on file for
   all items with a useful life
   of more than one year?

2. Is there a system in place
   that inventories and tracks
   non-expendable property
   with a value of $500 or
   more? (Note: inventory
   report must be kept on
   file)

                                              4
3. Do they maintain an
   inventory of “small and
   attractive items”?
4. Does Agency have a
   depreciation schedule in
   place?

5. Property records contain
   for each item:

   Description?
   Manufacturer’s serial
    number or other ID?
   Acquisition date?
   Cost?
   Funding Source?
   Controlling Interest?
   Ultimate disposition data?




CASH DISBURSEMENT REVIEW                              COMMENTS
  THIS SECTION IS FOR CTED USE
             ONLY

Trace a random sample of five program-
related cash disbursements through the
accounting cycle to check the system for
accuracy and conformance to the
contractor’s written procedure.


                                            #1   #2        #3    #4   #5


What type of record is being sampled?
(i.e. purchase request, travel voucher,
invoice voucher, etc.)
Is there a cancelled check?
Is there an appropriate vendor invoice
and supporting documentation?

Was the payment request properly
reviewed?
Was the purchase/travel properly
authorized?
Is the purchase/travel appropriate for
approved activities identified in the CPU
contract?
Was the item charged to the appropriate
program according to the cost allocation
plan?
Was the item charged to the appropriate
line item?

Was the transaction recorded accurately
in the appropriate financial reports

                                            5
AGENCY ORGANIZATION                YES or NO       Comments
Does the agency have a
organizational chart that
identifies fiscal chain of
command



PERSONNEL                          YES or NO       Comments
1. Written personnel policies
   and procedures describe?

   Job descriptions
   Leave policies
   Recruitment and
    selection
   Evaluation
   Travel
   Drug and Alcohol policy
   EEOC policy
   Grievance policy
   ADA requirements
   Sexual Harassment
   Salary Chart
   Conflict of Interest
   Staff Training
   Employee Conduct &
    Disciplinary Procedures
   Non-Discrimination


2. Are policies available to all
   staff?




                                               6
CAP BOARD EVALUATION             YES or NO       Comments
1. Board meetings in last 6
   months had a quorum?

2. The minutes of board and
   committee meetings
   detailing attendance,
   motions, votes, and
   actions taken are recorded
   and signed by a
   responsible participant
   and retained in a readily
   accessible file?

3. One-third are public
   elected officials, their
   designees, or other public
   officials?

4. At least one-third are
   democratically elected
   representatives of the low-
   income population?

5. Private sector
   representation reflects
   significant community
   resources and includes
   decision-makers with
   potentially significant
   impact on behalf of low-
   income residents.

6. Private sector
   representation reflects
   significant community
   resources and includes
   decision-makers with
   potentially significant
   impact on behalf of low-
   income residents. (For
   Public CAA’s only)




                                             7
Agency By-Laws                 YES or NO       Comments
Does the agency have bylaws
that define

   Leave policies
   Mission and/or Purpose?
   Election of Officers?
   Geographic Service Data?
   Board Membership
    Composition?
   Term of Office for Board
    Members?
   Quorum for Business?
   Conflict of
    Interest/Nepotism
    Statement?
   Board Responsibilities?
   Committee Duties?
   Board Meetings?
   Duties of Executive
    Director




                                           8

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:45
posted:12/21/2010
language:English
pages:8
Description: Authenticity of Accounting Records document sample