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Policy: I.A.2

Issued: November 15, 1991

Owner: Director of Audits

Latest Revision:

REPORTING FRAUDULENT TRANSACTIONS
This policy has been migrated to the standardized format.
See
http://etg07.itc.virginia.edu/policy/policydisplay?id='GOV-002'

1.0 Purpose

This policy describes the general guidelines for reporting fraudulent transactions.

2.0 Policy [Top]

2.1 Reporting Actions

When a fraudulent transaction is suspected, the dean/department head is responsible for immediately notifying the University Police (4-7166), the Audit Department (4-4110) and Office of Risk Management (4-3055). A preliminary investigation will be conducted by the University Police and the Audit Department.

NOTE: If the frandulent transaction involves equipment, also notify either the University Property Section (4-3719) or Medical Center Property Accounting (4-2954). These sections need written documentation to remove or change the status of a piece of equipment.

The Director of Audits will report the incident to both the Auditor of Public Accounts and the State Police IF:

The investigation finds a fraudulent transaction to be a reasonable possibility, AND

A State or University employee may be involved.

3.0 Definitions [Top]

Fraudulent transactions ordinarily involve a willful or deliberate action with the intent to obtain an unauthorized benefit. Fraudulent transactions can include but are not limited to:

4.0 References [Top]

5.0 Approvals and Revisions [Top]


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