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Internal Controls

Guidelines


The most important aspect of internal controls is the segregation of duties. For example, the employee who receives and deposits payments on an account must not also have the responsibility of recording payments in the Integrated System.


Responsibilities


All employees of the University have the following responsibilities:

  • to safeguard assets,
  • to verify the accuracy and reliability of financial data,
  • to safeguard personal financial information,
  • to review project snd reconcile accounts periodically,
  • to promote operational efficiency through organization and training,
  • to adhere to University policies and procedures,
  • to comply with the monitoring of internal controls by the Audit department,
  • to document departmental business operations, and
  • to maintain internal controls.
Detailed information regarding these responsibilies may be found in the Internal Controls procedure.


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