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Internal Controls

Overview


All employees of the University are responsible for performing their duties in compliance with proper internal controls. Internal controls must reasonably assure that financial information is timely and accurate, that assets are safeguarded and properly accounted for, and that the University complies with all prevailing laws and administrative regulations of the Commonwealth and Federal government.


Definition of Internal Controls


Internal Controls are organizational plans and procedures which are designed to:

  • Safeguard assets,
  • Verify the accuracy and reliability of accounting data and other management information,
  • Promote operational efficiency, and
  • Ensure adherence to prescribed policies and compliance with federal and state regulations.
Information regarding responsibilities and requirements may be found in the Internal Controls policy.


Questions about the University of Virginia's Internal Controls Program? Contact us at: comptroller@virginia.edu.