Internal Controls Questionnaire
The State Comptroller requires the University to certify annually that adequate internal accounting controls are in place or disclose areas where deficiencies in internal controls have been noted. 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.
Satisfactory compliance is essential for the University to obtain annual certification for Restructuring as well as for achieving the objectives being put forth under the state Agency Risk Management and Internal Control Standards (ARMICS). In order to certify that these controls are in place, all Deans, Directors, and Department Heads must complete the ICQ requirement annually.
The Internal Control Questionnaire (ICQ) helps us to assess the internal controls environment of the University. Detailed instructions for completing the ICQ may be found here.
Units operating within the University Academic Division, the University's College at Wise, and the Southwest Virginia Higher Education Center must complete the Internal Controls Questionnaire (ICQ). The University Medical Center conducts a separate review of internal controls.
The Dean or Department Head is responsible for certifying that each Organization (as defined in the University's Integrated System) for which they are responsible is exercising proper internal controls, or has developed a plan for corrective action.
Questions about the University of Virginia's Internal Controls Questionnaire (ICQ) Program? Contact us at: firstname.lastname@example.org.