DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA. Appendix 1b REVIEW OF CHEQUE HANDLING PROCESS
|
|
|
- Rafe Powell
- 8 years ago
- Views:
Transcription
1 DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA Appendix 1b REVIEW OF CHEQUE HANDLING PROCESS
2 DISTRIBUTION LIST Audit Team Prakash Gohil, Audit Manager Report Distribution List Colin Wilson, Senior Manager, Planning Decisions Unit David Gallie, Assistant Director Finance
3 CONTENTS EXECUTIVE SUMMARY Page Background 1 Audit Assurance 1 Areas of Effective Control 1 Key Risk Issues for Management Action 2 FINDINGS and RECOMMENDATIONS Review Objectives 3 Scope 3 Pre-planning Applications Income Collection 3 Reconciliation Process 4 Supervision and Record Keeping 5 Other Cheque Income 5 ACTION PLAN Assurance and Risk Rating Definitions 7 Action Plan 8 September 2012 Cheque Handling Process
4 EXECUTIVE SUMMARY 1. Background 1.1 This review has been carried out in addition to the 2012/13 GLA audit plan at the request of the Assistant Director of Finance following an investigation into an attempted fraud. The objective is to ensure that the Authority has adequate systems and procedures for cheque handling generally and in particular within the planning applications team. 1.2 We are looking to provide assurance that cheque handling is being managed effectively. At the outset of the review potential risks were identified as: Lack of accountability Non-compliance with regulations, policy and/or procedures Loss or misappropriation of funds Ineffective reconciliation of income due and collected Inadequate separation of duties 1.3 The GLA have received payments by cheque, primarily for pre-planning applications. According to the Records Management Tracking System (RMTS) computer spread sheet maintained by the Planning Department, the total of preplanning application fees amount to 2,016,080 for the period from 9 November 2007 to 15 August On 29 March 2007 the Planning Decisions Unit introduced a formal charge for pre-application meetings following the Mayor s approval MA2956. This was revised through MD717 on 1 March 2011 which set the current charge of 4k for an initial meeting and 1k for a follow up meeting. 2. Audit Assurance Limited Assurance The control framework for cheque handling has not operated effectively to mitigate key risks. A number of key controls were not being applied to meet business objectives. Recent management action has been taken to address system weaknesses. 3. Areas of Effective Control 3.1 As from August 2012, a revised process has been introduced and published on the GLA website with the aim of collecting all planning application fees through sales invoicing only. This will obviate the need for banking of cheques, whilst streamlining procedures and facilitating improved income control over preplanning fees. 3.2 Management have also proposed a number of changes to address system weaknesses in the handling of other payments by cheques. September 2012 Cheque Handling Process 1
5 EXECUTIVE SUMMARY 4. Key Risk Issues for Management Action 4.1 Adequate arrangements for the banking of pre-planning applications were not in place. The Records Management Tracking System (RMTS) computer spread sheet used to record expected and actual income has not been properly maintained and reconciled leading to a risk of loss or misappropriation of funds. 4.2 The Planning Team did not carry out regular checks to ensure that all invoices were raised correctly and that income was received for all pre-planning meetings in compliance with the Finance Regulations. 4.3 Effective reconciliation procedures have not been in place between the Planning and Finance Teams to ensure that all pre-planning income was accounted for locally and agreed with the entries on the General Ledger to account for all income due and actually collected. 4.4 A lack of adequate supervision and separation of duties has led to approved procedures not being followed and inadequate record keeping. Improved supervision and administrative arrangements, including record keeping, have now been introduced to ensure that planning administration procedures are followed properly and consistently. 4.5 Action is to be taken to reduce the number of cheque payments across the Authority. Adequate guidance and procedures will need to be put in place where cheque payments continue and for any other alternative method of payment that is introduced. September 2012 Cheque Handling Process 2
6 FINDINGS AND RECOMMENDATIONS 5. Review Objectives 5.1 We reviewed the adequacy of controls to mitigate the risks relating to the effective handling of cheque payments, with particular reference to planning applications. In particular, we are looking to provide assurance that:- 6. Scope Adequate arrangements are in place for dealing with income arising from preplanning applications. Effective reconciliation and supervision takes place to ensure that income due is collected and banked. Adequate supervision takes place and auditable records are maintained. 6.1 We reviewed the adequacy and effectiveness of the collection and banking of cheques where appropriate within the GLA. We reviewed the method of processing requests for meetings on pre-planning application and associated income. This included the revised process introduced in August We also considered any wider lessons to be learnt by the Authority from weaknesses identified in internal controls in the planning application process. 7. Pre-planning Applications Income Collection 7.1 Until August 2012, pre-planning application fees were mainly collected in cheque form. A revised process was recently introduced and published on the GLA website with the aim of collecting all planning application fees through sales invoicing only. This will obviate the need for banking of cheques, whilst streamlining procedures and facilitating improved income control over pre-planning fees. 7.2 Adequate arrangements were not in place for ensuring that all pre-planning application fees were collected as the Records Management Tracking System (RMTS) computer spread sheet was not being maintained properly. According to the RMTS the total income due from 9 November 2007 to August 2012 was 2,016,080 consisting of 809 entries. A total of 734 entries relate to cheque payments of 1,914,700. However, only 691 entries showed actual income (cheques) collected totalling 1,721,100. A full reconciliation is being completed by the new Senior co-ordinator in Planning, with support from Finance. 7.3 A further analysis of the RMTS identified 43 entries showing cheques amounting to 193.6k were still outstanding and a further 31 entries totalling 66k were left blank and without any commentary. A full reconciliation is being completed by the new Senior Co-ordinator in Planning, with support from Finance. 7.4 The Planning Team undertook an exercise in February 2012, to verify and establish the overall pre-planning income position for the period from 14 April 2011 September 2012 Cheque Handling Process 3
7 FINDINGS AND RECOMMENDATIONS to January The total expected income for the same period is shown as 615.6k and actual income 461k, a difference of 154.6k consisting of 115.4k unpaid and 39.2k was still to be processed. The 39.2k that was identified following the review exercise was subsequently processed, and the 115.4k comprising primarily large single payments for multiple meetings on large schemes are currently being processed. Risk and Recommendation There is a risk of loss or misappropriation of funds as the expected and actual income position has not been verified on a periodical basis. We recommend that the Records Management Tracking System (RMTS) computer spread sheet is reviewed and analysed fully to identify all unpaid preplanning fees and remedial action is taken accordingly. 7.5 There has been a failure to comply with the GLA Financial Regulations as proper processes were not in place for recording all sums due to the Authority nor was there prompt and proper accounting for all cash including its collection, custody, control and deposit. 7.6 As from August 2012, revised processes have been introduced and published on the GLA website with an aim to collect all the planning application fees through sales invoicing only and it is specifically stated, in a planning application letter, that cheques will not be accepted for planning applications as from 3 September This will obviate the banking of cheques and facilitate improved income control over planning fees. However, the success of embedding the process depends on clear lines of communication being established between the Planning Team and Finance. Checks will need to be carried out retrospectively after the planning process has started especially since delays are likely to result at the outset due to the requirement to set up vendor details and raising of invoices. Risk and Recommendation There is a risk that income due is unpaid resulting in bad debts. We recommend that the Planning Team undertakes regular checks to ensure that all invoices have been raised correctly and expected income has been collected for all pre-planning applications and any departure from the process is fully documented. 8. Reconciliation Process 8.1 There was no full reconciliation procedure in place within the Planning Team and Finance to ensure that expected planning income matches actual income and that any variance was identified and dealt with fully. Further action is being taken to September 2012 Cheque Handling Process 4
8 FINDINGS AND RECOMMENDATIONS reconcile past discrepancies as described above and ensure effective reconciliations take place in the future. Risk and Recommendation A lack of effective reconciliation arrangements could lead to a failure to track expected income with actual income to reveal any unpaid or outstanding preplanning fees resulting in loss of income to the Authority. We recommend that effective reconciliation procedures are put in place to ensure that all expected income is accounted for and action taken to ensure that actual income is correct. 9. Supervision and Record Keeping 9.1 There is inadequate supervision in place to ensure that all entries in the RMTS are made accurately and that records are being completed and maintained properly. This has meant that the various issues that have arisen over time have not been addressed. There was also a lack of separation of duties which could have assisted in identifying failures in the system. This led to incomplete and inconsistent records being maintained which has resulted in the issues described in section 7 above. 9.2 In mid-2011 it was agreed between planning and finance that the Sales Invoice Request Forms (SIRFs) would have an address description that would appear in the budget reports to ease reconciliation. This was not implemented correctly by planning admin, whilst site addresses were placed in the SIRFs they were not appearing on the budget reports. Risk and Recommendation A lack of adequate supervision and separation of duties could lead to processes not being fully completed and poor record keeping. We recommend that the administration functions relating to pre-planning applications are reviewed and clearly designated to ensure that there is adequate supervision and separation of duties with proper records being maintained. 10. Other Cheque Income 10.1 At the time of the review we could not readily identify the other sources of cheque payments. A review by the Finance Unit showed that non-planning application cheque payments received in , totalled 51k and analysed as follows: 33k related to cheques from the Council s insurer which could readily be paid by electronic means; 8k related to cheques from Assembly Members and officers for reimbursement of phones, salaries, season ticket loans etc where payment by electronic means is possible but is not enforceable; and September 2012 Cheque Handling Process 5
9 FINDINGS AND RECOMMENDATIONS 10k related to other miscellaneous cheques from suppliers where again payment by electronic means could be encouraged but would be unlikely to be fully successful. Risk and Recommendation Ineffective cheque handling procedures could lead to misappropriation or loss of funds. We recommend that a policy and guidance is issued to all directorates stating that payments methods such as BACS should be encouraged. Where there is no alternative adequate controls are put in place to ensure that all cheques are banked using an approved Finance process. September 2012 Cheque Handling Process 6
10 ACTION PLAN RISK AND AUDIT ASSURANCE STATEMENT - DEFINITIONS Overall Rating Substantial Adequate Limited No Assurance Criteria There is a sound framework of control operating effectively to mitigate key risks, which is contributing to the achievement of business objectives. The control framework is adequate and controls to mitigate key risks are generally operating effectively, although a number of controls need to improve to ensure business objectives are met. The control framework is not operating effectively to mitigate key risks. A number of key controls are absent or are not being applied to meet business objectives. A control framework is not in place to mitigate key risks. The business area is open to abuse, significant error or loss and/or misappropriation. Impact There is particularly effective management of key risks contributing to the achievement of business objectives. Key risks are being managed effectively; however, a number of controls need to be improved to ensure business objectives are met. Some improvement is required to address key risks before business objectives can be met. Significant improvement is required to address key risks before business objectives can be achieved. RISK RATINGS Priority Categories recommendations according to their level of priority. 1 Critical risk issues for the attention of senior management to address control weakness that could have significant impact upon not only the system, function or process objectives, but also the achievement of the organisation s objectives in relation to: The efficient and effective use of resources The safeguarding of assets The preparation of reliable financial and operational information Compliance with laws and regulations. 2 Major risk issues for the attention of senior management to address control weaknesses that has or is likely to have a significant impact upon the achievement of key system, function or process objectives. This weakness, whilst high impact for the system, function or process does not have a significant impact on the achievement of the overall organisational objectives. 3 Other recommendations for local management action to address risk and control weakness that has a low impact on the achievement of the key system, function or process objectives ; or this weakness has exposed the system, function or process to a key risk, however the likelihood is this risk occurring is low. 4 Minor matters need to address risk and control weakness that does not impact upon the achievement of key system, function or process or process objectives; however implementation of the recommendation would improve overall control. September 2012 Cheque Handling Process 7
11 ACTION PLAN Ref. Findings and Risk Priority Recommendations Accepted Management Response and Responsibility 7.4 The Planning Team undertook an exercise in February 2012, to verify and establish the overall pre-planning income position for the period from 14 April 2011 to January The total expected income for the same period is shown as 615.6k and actual income 461k, a difference of 154.6k consisting of 115.4k unpaid and 39.2k was still to be processed. There is a risk of loss or misappropriation of funds as the expected and actual income position has not been verified on a periodical basis. 2 The Records Management Tracking System (RMTS) computer spread sheet is reviewed and analysed fully in order to identify all unpaid preplanning fees and remedial action is taken accordingly. Agreed A more robust financial management and monitoring process is to be put in place. Effective checks and balances to be implemented to ensure monitoring and reconciliations are robust and accurate. Target Date Immediate Responsibility: Assistant Director Planning & Assistant Director Finance, with effective liaison and working processes to be in place. September 2012 Cheque Handling Process 8
12 ACTION PLAN Ref. Findings and Risk Priority Recommendations Accepted Management Response and Responsibility There has been a failure to comply with the GLA Financial Regulations as proper processes were not in place for recording all sums due to the Authority nor was there prompt and proper accounting for all cash including its collection, custody, control and deposit. There is a risk that income due is unpaid resulting in bad debts. 2 The Planning Department undertakes regular checks to ensure that all invoices have been raised correctly and expected income has been collected for all pre-planning applications and any departure from the process is fully documented. Target Date Agreed As above Immediate 8.1 There was no formal reconciliation procedure in place within the Planning Team and Finance to ensure that expected planning income matches actual income and that any variance was identified and dealt with fully. A lack of effective reconciliation arrangements could lead to a failure to track expected income with actual income to reveal any unpaid or outstanding preplanning fees resulting in loss of income to the Authority. 2 Effective reconciliation procedures are put in place to ensure that all expected income is accounted for and action taken to ensure that actual income is correct. Agreed As above Immediate There is inadequate supervision in place to ensure that all entries in the RMTS are made accurately and that records are being completed and maintained properly. This has meant that the various issues that have arisen over time have 2 The administration functions relating to preplanning applications are reviewed and clearly designated to ensure that there is adequate supervision and separation of duties with proper records being maintained. Agreed Admin systems within the team are currently being reviewed by the new Senior November 2012 September 2012 Cheque Handling Process 9
13 ACTION PLAN Ref. Findings and Risk Priority Recommendations Accepted Management Response and Responsibility not been addressed. There was also a lack of separation of duties which could have assisted in identifying failures in the system. This led to incomplete and inconsistent records being maintained. A lack of adequate supervision and separation of duties could lead to processes not being fully completed and poor record keeping. Co-ordinator. Responsibility: Assistant Director - Planning Target Date 10.1 At the time of the review we could not readily identify the other sources of cheque payments. A review by the Finance Unit showed that non-planning application cheque payments received in , totalled 51k which was broken down into payment types. 2 A policy and guidance is issued to all directorates stating that payments methods such as BACS should be encouraged. Where there is no alternative adequate controls are put in place to ensure that all cheques are banked using an approved Finance process. Agreed Guidance to be issued. Responsibility Assistant Director - Finance Immediate Ineffective cheque handling procedures could lead to misappropriation or loss of funds. ##ISA4D87D77654C404A9A924F78FE705525##Finding September 2012 Cheque Handling Process 10
Appendix 1e DIRECTORATE OF AUDIT, RISK AND ASSURANCE INTERNAL AUDIT SERVICE TO THE GLA
Appendix 1e DIRECTORATE OF AUDIT, RISK AND ASSURANCE INTERNAL AUDIT SERVICE TO THE GLA REVIEW OF PAYROLL February 2012 DISTRIBUTION LIST Audit Team Karen Welsh, Auditor Prakash Gohil, Audit Manager Distribution
Report 7 Appendix 1d Final Internal Audit Report Sundry Income and Debtors (inc. Fees and Charges) Greater London Authority February 2010
Report 7 Appendix 1d Final Internal Audit Report Sundry Income and Debtors (inc. Fees and Charges) Greater London Authority February 2010 This report has been prepared on the basis of the limitations set
Appendix 1C. DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA PAYROLL CONTROL FRAMEWORK
Appendix 1C DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA PAYROLL CONTROL FRAMEWORK DISTRIBUTION LIST Audit Team Prakash Gohil, Audit Manager Karen Walker, Risk and Assurance
DIRECTORATE OF AUDIT, RISK FF AND ASSURANCE. Appendix 2a FOLLOW UP REVIEW OF CORPORATE BUSINESS CONTINUITY
DIRECTORATE OF AUDIT, RISK FF AND ASSURANCE Internal (Foundry Audit Forms Service San/ Font size to 20/ the RBG: 160, GLA 160, 170) Appendix 2a FOLLOW UP REVIEW OF CORPORATE BUSINESS CONTINUITY DISTRIBUTION
DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA
Appendix 1c DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA REVIEW OF CORPORATE GOVERNANCE, STRATEGIC PLANNING AND PERFORMANCE FRAMEWORKS INTEGRATING NEW AREAS OF GLA BUSINESS
Appendix 1e. DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA. Performance Management Framework
Appendix 1e DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA Performance Management Framework DISTRIBUTION LIST Audit Team David Esling, Head of Audit and Assurance - Risk Management
Great Aycliffe Town Council. Purchase Ordering and Payment for Goods and Services Policy
Great Aycliffe Town Council Purchase Ordering and Payment for Goods and Services Policy Finance Section April 2013 1.0 Introduction 1.1 This policy sets out the Council s arrangements for ordering, receiving,
KPMG LLP Suite 12000 1801 K Street, NW Washington, DC 20006 Independent Auditors Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements
Checklist. Internal financial controls for charities. Contents. 1. Self-assessment checklist
1 of 9 Internal financial controls for charities Checklist Contents 1. Self-assessment checklist 1 2. Some key issues, monitoring arrangements and risk of fraud 2 3. Income 3 4. Purchases and payments
Appenidx 1a. DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA REVIEW OF HOUSING COMPLIANCE AUDIT PROGRAMME
Appenidx 1a DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA REVIEW OF HOUSING COMPLIANCE AUDIT PROGRAMME DISTRIBUTION LIST Audit Team David Esling, Head of Audit and Assurance
Internal Audit. West London Waste Authority Cash / Receipts. Appendix 2 FINAL REPORT AMBER ASSURANCE. DATE: 30 October 2013. Cher Covey, Auditor
Appendix 2 FINAL REPORT AMBER ASSURANCE West London Waste Authority Cash / Receipts DATE: 30 October 2013 CLIENT: West London Waste Authority AUDITOR: Cher Covey, Auditor MANAGER: Susan Dixson Head of
DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA
Appendix 2c DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA Review of Programme and Project Management Framework- Strategic Land and Property DISTRIBUTION LIST Audit Team David
HOME GROUP JOB DESCRIPTION. Date:
HOME GROUP JOB DESCRIPTION 1 JOB DETAILS Job Title: Assistant Finance Business Partner (Care & Support) Reports to: Finance Business Partne Date: Ref: HOMEJD235 2 JOB PURPOSE Based centrally this role
INTERNAL CONTROL POLICIES
INTERNAL CONTROL POLICIES 2701 Internal Control Policy 2701.1 Addendum Internal Control Standard #1 Payments Cycle 2701.2 Addendum Internal Control Standard #2 Conversion Cycle 2701.3 Addendum Internal
Community Ambulance Service District
STATUTORY AUDIT Community Ambulance Service District For the year ended June 30, 2014 Oklahoma State Auditor & Inspector Gary A. Jones, CPA, CFE This publication, issued by the Oklahoma State Auditor and
Internal controls Guidance for trustees
Regulatory code of practice no. 9 Internal controls Guidance for trustees Contents Paragraph Page 1 Introduction 3 5 The status of codes of practice 3 6 Other regulatory requirements 3 7 Terminology 4
CANI Financial Policy and Procedures
CANI Financial Policy and Procedures Policy CANI Council is conscious of the need to ensure that all funds received by the organisation are used in accordance with the aims and objectives of CANI; that
Internal Control Systems
D. INTERNAL CONTROL 1. Internal Control Systems 2. The Use of Internal Control Systems by Auditors 3. Transaction Cycles 4. Tests of Control 5. The Evaluation of Internal Control Component 6. Communication
Financial Accounting. John J. Wild. Sixth Edition. McGraw-Hill/Irwin. Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
Financial Accounting John J. Wild Sixth Edition McGraw-Hill/Irwin Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 06 Reporting and Analyzing Cash and Internal Controls Conceptual
Internal Audit Final Report Strategic Finance Accounts Receivable March 2014
Internal Audit Final Report Strategic Finance Accounts Receivable March 2014 Page 1 of 23 CONTENTS EXECUTIVE SUMMARY 3-4 Overview 3 Summary of Significant Risks 4 Summary of Significant Findings 4 Conclusion
Payment Procedures. Corruption Prevention Department
Payment Procedures Corruption Prevention Department best practices 貪 CONTENTS Pages Introduction 1 Procedural Guidelines 1 Payment Methods 2 Autopay 2 Cheques 3 Petty Cash 3 Payment Records 4 Control and
INTERNAL AUDIT SERVICES Glenorchy City Council Internal audit report of Derwent Entertainment Centre financial business and operating systems
INTERNAL AUDIT SERVICES Internal audit report of Derwent Entertainment Centre financial business and operating systems ADVISORY Contents Executive summary...2 Internal audit findings...4 Summary of other
Appendix 1c. DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA REVIEW OF INTERNET- BASED NETWORK SECURITY
Appendix 1c DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA REVIEW OF INTERNET- BASED NETWORK SECURITY DISTRIBUTION LIST Audit Team David Esling, Head of Audit Assurance, Risk
Preparation and Presentation of Accounts from Incomplete Records
AG 1 Issued March 1984 Accounting Guideline 1 Preparation and Presentation of Accounts from Incomplete Records AG 1 COPYRIGHT Copyright 2008 Hong Kong Institute of Certified Public Accountants This Accounting
PROCEDURE Banking. Number: G 1904 Date Published: 8 May 2014
1.0 Summary of Changes This is a new procedure which details the collection and handling of all income owed to Essex Police. This includes the handling of cash seized under the Proceeds of Crime Act (POCA).
FINAL INTERNAL AUDIT REPORT - REVIEW OF PERFORMANCE INDICATORS (PIs) 2008/09
Sandy Pacek Project Manager Squares and Business Development Dear Sandy, FINAL INTERNAL AUDIT REPORT - REVIEW OF PERFORMANCE INDICATORS (PIs) 2008/09 INTRODUCTION This review forms part of the agreement
PAYROLL MANAGEMENT POLICY, PROCESSES AND PROCEDURES
PAYROLL MANAGEMENT POLICY, PROCESSES AND PROCEDURES 1 RECOMMENDED THAT the Payroll Management Policy and the contents thereof be tabled for approval at the Mayoral Committee. Version Version 2 Date March
10-1. Auditing Business Process. Objectives Understand the Auditing of the Enteties Business. Process
10-1 Auditing Business Process Auditing Business Process Objectives Understand the Auditing of the Enteties Business Process Identify the types of transactions in different Business Process Asses Control
Guidance notes: Financial Planning & Managing Risk
Guidance notes: Financial Planning & Managing Risk This guidance note is particularly for governors on the audit or finance committee, but will be of interest to all governors. What is the governing body
FS-06-SF3 School Funds Receipt Log; FS-04-SF2 Schools Funds Payment Request; FS-04-SF1 School Funds: Advance of Funds
Administrative SCHOOL FUNDS Responsibility: Legal References: Related References: Executive Superintendent of Business Services Nil FS-04-SF4 School Funds: Receipts; FS-06-SF3 School Funds Receipt Log;
KANSAS CITY, MISSOURI RESPONSES TO THE FISCAL YEAR 2013 AUDIT MANAGEMENT LETTER
KANSAS CITY, MISSOURI RESPONSES TO THE FISCAL YEAR 2013 AUDIT MANAGEMENT LETTER Material Weaknesses (0) No material weaknesses were reported for FY 2013. Significant Deficiencies (1) Grant Receivable Accounting
USE OF BUSINESS CARDS FOR PURCHASING
POLICY STATEMENT USE OF BUSINESS CARDS FOR PURCHASING POLICY ADOPTED: 8 MARCH 2000 RATIONALE Considerable time and effort is expended in the processing of requisitions, purchase orders and invoices that
Internal Audit Monitoring Report. Audit Report status Assurance. Payroll Final Limited
Appendix 1 Internal Audit Monitoring Report Audit Report status Assurance Payroll Final Limited The Payroll system was reviewed to seek assurance that processes and procedures are operating effectively
Accounts Payable. Best Practices: Existing Control: Control Gap: Controls Evaluation and Gap Analysis. Purchasing
Accounts Payable Gap Analysis: POS identifies the following Best Practices as efficient and effective control processes for the above risk. Listed for comparison are the controls currently in place, if
ACCOUNTING AND FINANCIAL REPORTING REGULATION MANUAL
ACCOUNTING AND FINANCIAL REPORTING REGULATION MANUAL STATE BOARD OF ACCOUNTS 302 West Washington Street Room E418 Indianapolis, Indiana 46204-2769 Issued January 2011 Revised April 2012 TABLE OF CONTENTS
GUIDANCE NOTE FOR DEPOSIT-TAKERS. Operational Risk Management. March 2012
GUIDANCE NOTE FOR DEPOSIT-TAKERS Operational Risk Management March 2012 Version 1.0 Contents Page No 1 Introduction 2 2 Overview 3 Operational risk - fundamental principles and governance 3 Fundamental
REPORT OF THE AUDIT OF THE JACKSON COUNTY SHERIFF
REPORT OF THE AUDIT OF THE JACKSON COUNTY SHERIFF For The Year Ended December 31, 2011 ADAM H. EDELEN AUDITOR OF PUBLIC ACCOUNTS www.auditor.ky.gov 209 ST. CLAIR STREET FRANKFORT, KY 40601-1817 TELEPHONE
Internal Audit Report Project Management
Audit Committee, 20 Internal Audit Report Project Management Executive summary and recommendations Introduction As part of the Internal Audit Plan for 2013-14 Mazars have undertaken a review of arrangements
Mango s Health Check. How healthy is financial management in your not-for-profit organisation?
How healthy is financial management in your not-for-profit organisation? Version 3 2009 Mango 2nd Floor East, Chester House, George Street, Oxford OX1 2AU Phone +44 (0)1865 423818 Fax +44 (0)1865 423560
FINAL NOTICE. The Bank of New York Mellon London Branch ( BNYMLB ) The Bank of New York Mellon International Limited ( BNYMIL )
FINAL NOTICE To: The Bank of New York Mellon London Branch ( BNYMLB ) The Bank of New York Mellon International Limited ( BNYMIL ) Reference Numbers: 122467 183100 Address: 1 Canada Square London E14 5AL
NHS Dorset Clinical Commissioning Group. Internal Audit Annual Report 2014/15. May 2015
Internal Audit Annual Report 2014/15 May 2015 Internal Audit Annual Report INTRODUCTION This is the 2014/15 Annual Report by TIAA on the internal control environment at Dorset Clinical Commissioning Group.
LIANZA Code of Practice - Part Four
LIANZA Code of Practice - Part Four Financial Guidelines and Practices for Regions and Special Interest Groups (SIGs) updated July 2011 following all accounts being streamlined into the LIANZA Trust Management
Chapter 50 General Accounting and Reporting Requirements
Chapter 50 General Accounting and Reporting Requirements 50.1 Servicer fiscal responsibilities (10/01/14) The fiscal responsibilities of the Servicer include the following: 1. Accurate and timely accounting,
The policy and procedural guidelines contained in this handbook are designed to:
BASIC POLICY STATEMENT The Mikva Challenge is committed to responsible financial management. The entire organization including the board of directors, administrators, and staff will work together to make
Internal Controls: Best Practices for Political Campaigns in New York City
Internal Controls: Best Practices for Political Campaigns in New York City This document describes standard financial controls and procedures that can help you protect and manage your campaign s assets
May 2011 Report No. 11-030. An Audit Report on Substance Abuse Program Contract Monitoring at the Department of State Health Services
John Keel, CPA State Auditor An Audit Report on Substance Abuse Program Contract Monitoring at the Department of State Health Services Report No. 11-030 An Audit Report on Substance Abuse Program Contract
Appendix 1c. DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA REVIEW OF NETWORK/INTERNET SECURITY
Appendix 1c DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA REVIEW OF NETWORK/INTERNET SECURITY DISTRIBUTION LIST Audit Team Prakash Gohil, Audit Manager Steven Snaith, Risk
Internal Audit FINAL INTERNAL AUDIT REPORT. Management Initiated Review of Child Support Master Program Payments
Australian Government Department of Human Services Internal Audit FINAL INTERNAL AUDIT REPORT Management Initiated Review of Child Support Master Program Payments Report Number Conducted May - June 2012
Release: 1. FNSACCT407B Set up and operate a computerised accounting system
Release: 1 FNSACCT407B Set up and operate a computerised accounting system FNSACCT407B Set up and operate a computerised accounting system Modification History Not applicable. Unit Descriptor This unit
Client Asset Requirements. Under S.I No.60 of 2007 European Communities (Markets in Financial Instruments) Regulations 2007
Client Asset Requirements Under S.I No.60 of 2007 European Communities (Markets in Financial Instruments) Regulations 2007 Instructions Paper November 2007 1 Contents 1 Contents 2 Introduction 1 2.1 Scope
Department of Public Safety and Correctional Services Criminal Injuries Compensation Board
Audit Report Department of Public Safety and Correctional Services Criminal Injuries Compensation Board February 2012 OFFICE OF LEGISLATIVE AUDITS DEPARTMENT OF LEGISLATIVE SERVICES MARYLAND GENERAL ASSEMBLY
Sheffield Parent Carer Forum - Financial Standing Orders
Contents 1. Responsibilities of the Trustees 2. Maintenance of these standing orders and financial procedures 3. Maintenance of records and financial control 4. Security of financial information 5. Annual
WESTERN NEVADA COLLEGE THEATER DEPARTMENT Internal Audit Report July 1, 2009 through January 31, 2011
WESTERN NEVADA COLLEGE THEATER DEPARTMENT Internal Audit Report July 1, 2009 through January 31, 2011 GENERAL OVERVIEW The Western Nevada College (WNC) Theater Department falls administratively under the
www.lawsociety.org.uk/lexcel Lexcel International v5 Excellence in legal practice management and client care
www.lawsociety.org.uk/lexcel Lexcel International v5 Excellence in legal practice management and client care Lexcel International v5 Contents About Lexcel... 3 1 Structures and policies... 4 2 Strategic
Gen er a l L ed ger Fin a n c ia l In fo r m a t io n P o lic y
Gen er a l L ed ger Fin a n c ia l In fo r m a t io n P o lic y Classification: Policy Name: Council Policy General Ledger Financial Information Policy First Issued / Approved: 11 August 2015, C 10311
Comhairle nan Eilean Siar Internal Audit Review School Transport Policy Final Report 15/16-22
Comhairle nan Eilean Siar Internal Audit Review School Transport Policy Final Report 15/16-22 3 rd June 2015 3 rd June 2015 CONTENTS Page SECTION 1 - EXECUTIVE SUMMARY 1-6 SECTION 2 - DETAILED FINDINGS
Following up recommendations/management actions
09 May 2016 Following up recommendations/management actions Chartered Institute of Internal Auditors At the conclusion of an audit, findings and proposed recommendations are discussed with management and
Appendix 1b. DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA. Review of Mobile Portable Devices Management
Appendix 1b DIRECTORATE OF AUDIT, RISK AND ASSURANCE Internal Audit Service to the GLA Review of Mobile Portable Devices Management DISTRIBUTION LIST Audit Team David Esling, Head of Audit and Assurance
Assistant Financial Accountant Senior Financial Accountant None. Responsible for line managing. Grade D of Mind s salary scales
Job Description Job title Reporting to Responsible for line managing Salary Department/section Hours of work Located at Type of contract Budgetary responsibility and accountability Assistant Financial
Department of Consumer Affairs Cash Disbursements by Agency Checks
Internal Control Audit of the Department of Consumer Affairs Cash Disbursements by Agency Checks January 2008 Audit No. 2007-102 Internal Audit Office TABLE OF CONTENTS Report Summary Auditor s Report
Reconciling the Bank Statement
PrinciplesofAccounting HelpLesson #6 Reconciling the Bank Statement By Laurie L. Swanson Cash is one of the most important assets a business owns. Cash is the primary asset used to acquire other assets
Mecklenburg County Department of Internal Audit. Park and Recreation Department Contract Management Investigation Report 1401
Mecklenburg County Department of Internal Audit Park and Recreation Department Contract Management Investigation Report 1401 September 22, 2014 Internal Audit s Mission Through open communication, professionalism,
Section 7 Internal Control Framework
Section 7 Internal Control Framework Contents Page 7.1 Internal Control and Risk Management... 3 7.1.1 Legislative Framework... 4 7.1.2 Accountability and Transparency... 13 7.2 Risk Management... 15 7.2.1
AUDIT COMMITTEE 25 JUNE 2015
AUDIT COMMITTEE 25 JUNE 2015 AGENDA ITEM 13 Subject: ANNUAL INTERNAL AUDIT REPORT 2014/15 Report by: AUDIT AND INVESTIGATIONS MANAGER Enquiries contact: Ray Joy (01245 606424) Email ray.joy@chelmsford.gov.uk
Detroit Public Schools Office of the Auditor General
Detroit Public Schools Office of the Auditor General OF School Year 2008-09 REPORT NO: 09-174 REPORT DATE: June 30, 2009 Fisher Building 3011 West Grand Boulevard Suite 601A Detroit, Michigan 48202 Office:
MANAGEMENT LETTER. Nassau Health Care Corporation and Subsidiaries Year Ended December 31, 2013. Ernst & Young LLP
MANAGEMENT LETTER Nassau Health Care Corporation and Subsidiaries Year Ended December 31, 2013 Ernst & Young LLP Ernst & Young LLP 5 Times Square New York, NY 10036-6530 Tel: +1 212 773 3000 Fax: +1 212
FINANCIAL RELATED AUDIT OF BOYKIN CONTINUING EDUCATION CENTER School Year 2008-09
Detroit Public Schools Office of the Auditor General OF BOYKIN CONTINUING EDUCATION CENTER School Year 2008-09 REPORT NO: 09-015 REPORT DATE: June, 2009 Fisher Building 3011 West Grand Boulevard Suite
Final. Internal Audit Report. Creditors System
Final Internal Audit Report Creditors System Document Details: Reference: 1.2 / 2014-15 Senior Manager, Internal Audit & Assurance: David Jenkins ext 6567 Date: 7 th January 2015 This report is not for
Example: Spencer Company has the following information available as of April 30, 2002.
CASH AND CASH EQUIVALENTS on hand, demand deposits and other bank accounts are considered cash. equivalents are short-term investments (90 days or less) that can be converted into cash without any significant
How To Balance Sheet Of Group Agency
London Development Agency Closing Financial Statements To 31 March 2012 0 AUDITED FINANCIAL STATEMENTS 2011/12 CONTENTS Page Explanatory Foreword to the Financial Statements...3 Statement of Responsibilities
[300] Accounting and internal control systems and audit risk assessments
![[300] Accounting and internal control systems and audit risk assessments](/thumbs/25/6464424.jpg "[300] Accounting and internal control systems and audit risk assessments")
[300] Accounting and internal control systems and audit risk assessments (Issued March 1995) Contents Paragraphs Introduction 1 12 Inherent risk 13 15 Accounting system and control environment 16 23 Internal
How To Prevent Fraud On A Credit Card
Fraud Detection and Prevention Financial Management Advisory Council August 28, 2014 Sarah Mahugh, CPA, MBA Financial Audit Audit Manager Overview Fraud trends Fraud Risks and internal controls Case Studies
SOLUTION: AUDIT AND INTERNAL REVIEW, MAY 2014
SOLUTION 1(a) (a) The Auditing guideline points out that the amount or quantity of audit evidence required for the auditor to achieve the level of assurance is a matter of professional judgment. The factors
FRAUD RISK ASSESSMENT
FRAUD RISK ASSESSMENT All agencies are subject to fraud risks and need to complete a fraud risk assessment for their agency at least every biennium. A detailed fraud assessment needs to be performed by
Chapter 15: Accounts Payable and Purchases
Accounting Research Manager - Audit Private Accounting Research Manager Miller Interpretations and Other Resources Knowledge-Based Audit Procedures Chapter 15: Accounts Payable and Purchases Chapter 15:
Woodward County Emergency Medical Service District
Woodward County Emergency Medical Service District For the period July 1, 2011 through June 30, 2014 Oklahoma State Auditor & Inspector Gary A. Jones, CPA, CFE FOR THE PERIOD JULY 1, 2011 THROUGH JUNE
FUND MANAGER CODE OF CONDUCT
FUND MANAGER CODE OF CONDUCT First Edition pursuant to the Securities and Futures Ordinance (Cap. 571) April 2003 Securities and Futures Commission Hong Kong TABLE OF CONTENTS Page INTRODUCTION 1 I. ORGANISATION
TOWN OF CARLYLE POLICY MANUAL
TOWN OF CARLYLE POLICY MANUAL POLICY DESCRIPTION: POLICY NUMBER: IAC 0010 Internal Accounting Controls DATE APPROVED: March 26, 2008 DATE REVISED: October 12, 2011 Purpose of Policy: To promote and protect
5:31-7 Appendix B LOCAL AUTHORITIES - ACCOUNTING AND AUDITING IF ANY ARE NOT APPLICABLE, INSERT N/A AS YOUR ANSWER. FIRE DISTRICT YEAR UNDER AUDIT
5:31-7 Appendix B LOCAL AUTHORITIES - ACCOUNTING AND AUDITING AUDIT QUESTIONNAIRE FOR FIRE DISTRICT AUDITS EACH QUESTION MUST BE ANSWERED. PLEASE CIRCLE YES OR NO. IF ANY ARE NOT APPLICABLE, INSERT N/A
University System of Maryland University of Baltimore
Audit Report University System of Maryland University of Baltimore May 2005 OFFICE OF LEGISLATIVE AUDITS DEPARTMENT OF LEGISLATIVE SERVICES MARYLAND GENERAL ASSEMBLY This report and any related follow-up
Corporate Travel & Expense Card Procedures. Financial and Commercial Services
Corporate Travel & Expense Card Procedures Financial and Commercial Services Contents 1. INTRODUCTION... 2 2. GENERAL RULES REGARDING USE OF YOUR CORPORATE TRAVEL & EXPENSE CARD... 2 3. PLACING AN ORDER
PART A: OVERVIEW...1 1. INTRODUCTION...1 2. APPLICABILITY...1 3. OBJECTIVE...1 PART B: LEGAL PROVISIONS...2 4. LEGAL PROVISIONS...
PART A: OVERVIEW...1 1. INTRODUCTION...1 2. APPLICABILITY...1 3. OBJECTIVE...1 PART B: LEGAL PROVISIONS...2 4. LEGAL PROVISIONS...2 PART C: POLICY...2 5. SCOPE OF ACTIVITIES THAT CAN BE OUTSOURCED...2
Results of audits: Internal control systems 2013-14. Report 1 : 2014 15
Results of audits: Internal control systems 2013-14 Report 1 : 2014 15 Queensland Audit Office Location Level 14, 53 Albert Street, Brisbane Qld 4000 PO Box 15396, City East Qld 4002 Telephone (07) 3149
The Council for Medical Schemes Accreditation Standards for Third Party Administrators of Medical Schemes
The Council for Medical Schemes Accreditation Standards for Third Party Administrators of Medical Schemes Standards and Measurement Criteria Version 4 Contents SECTION 1: INTRODUCTION... 1 1. Executive
February 15, 2006. The Honorable Joshua B. Bolten Director Office of Management and Budget 725 17 th Street, NW Washington, DC 20503
February 15, 2006 The Honorable Joshua B. Bolten Director Office of Management and Budget 725 17 th Street, NW Washington, DC 20503 Dear Director Bolten: This letter transmits the Corrective Action Plan
MEMORANDUM INTERNAL CONTROL REQUIREMENTS FOR NON-PROFITS
DIVISION OF CHILD CARE AND EARLY CHILDHOOD EDUCATION HEALTH AND NUTRITION UNIT P O BOX 1437, SLOT S 155 501-320-8982 FAX: 501-682-2334 TDD: 501-682-1550 TO: NON-PROFIT INSTITUTIONS FROM: HEALTH AND NUTRITION
FINANCIAL POLICIES INDEX
FINANCIAL POLICIES INDEX Page Accounts Payable 2 Cash Receipts 6 Credit Cards 9 General Ledger Adjustments 10 Fixed Asset 11 Payroll Tax Reporting 13 Travel Reimbursement 14 Handling Mail 15 1 Accounts
Recommendations which have been implemented have been removed from this report. The original numbering of recommendations has been retained.
Audit Committee, 9 October 2014 Internal audit Review of recommendations Executive summary and recommendations At its meeting on 29 September 2011, the Committee agreed that it should receive a paper at
July 2014. Handbook of Prudential Requirements for Investment Intermediaries. Page 0 of 12 Page 0 of 12
July 2014 Handbook of Prudential Requirements for Investment Intermediaries Page 0 of 12 Page 0 of 12 Handbook of Prudential Requirements for Investment Intermediaries Contents Table of Contents Introduction
Senior Accountant Position Description Housing Resources Group (HRG)
Senior Accountant Position Description Housing Resources Group (HRG) Position Type: 40 hours per week, exempt Reports to: Controller Basic Responsibilities: Initiate, manage and assist with and complete
Chapter 14 Completing the Tests in the Sales and Collection Cycle: Accounts Receivable
Chapter 14 Completing the Tests in the Sales and Collection Cycle: Accounts Receivable Review Questions 14-1 Tests of details of financial balances are designed to determine the reasonableness of the balances
INTERNAL Audit Manual DETAILED GUIDANCE ON SPECIFIC AUDIT AREAS
INTERNAL Audit Manual PART 4 DETAILED GUIDANCE ON SPECIFIC AUDIT AREAS Contents 1. INTRODUCTION 2. AUDIT OF THE BUDGET CYCLE 3. REVIEW OF HUMAN RESOURCES MANAGEMENT 4. REVIEW OF CASH COLLECTION AND BANK
How To Audit A Financial Statement
INTERNATIONAL STANDARD ON 400 RISK ASSESSMENTS AND INTERNAL CONTROL (This Standard is effective, but will be withdrawn when ISA 315 and 330 become effective) * CONTENTS Paragraph Introduction... 1-10 Inherent
The Hong Kong Monetary Authority published today the enclosed first issue of the Operational Incidents Watch.
Our Ref : B1/15C B9/81C 19 September 2014 The Chief Executive All Authorized Institutions Dear Sir / Madam, Operational Incidents Watch The Hong Kong Monetary Authority published today the enclosed first
TRAINING IN FINANCIAL AND BUSINESS MANAGEMENT FOR ROAD CONTRACTORS MODULE ONE: SESSION FIVE PARTICIPANTS NOTES FINANCIAL ACCOUNTING FRAMEWORK
TRAINING IN FINANCIAL AND BUSINESS MANAGEMENT FOR ROAD CONTRACTORS 1.0 Purpose of session: The purpose of this session is; MODULE ONE: SESSION FIVE PARTICIPANTS NOTES FINANCIAL ACCOUNTING FRAMEWORK 1)
1. USING THE AUDIT PRACTICE MANUAL
1. USING THE AUDIT PRACTICE MANUAL 1.1 Introduction This Audit Practice Manual (APM) is a stand-alone system, with complete audit documentation available for use as required. APM incorporates all the documentation
Financial Management Policy
Financial Management Policy POLICY STATEMENT: Hastings Early Intervention Program Inc. is required by the Associations Incorporation Act 2009 to keep proper financial records, ensure financial probity
Substantive Tests of Transactions and Balances
10 CHAPTER Substantive Tests of Transactions and Balances LEARNING OBJECTIVES After studying this chapter you should be able to: 1 2 identify and distinguish between tests of controls and substantive tests
SCHEDULE 32. Revenue Collection and Payment
Business Operations- Schedule 32 (Revenue Collection and Payment) SCHEDULE 32 Revenue Collection and Payment 1. Scope 1.1 This Schedule 32 sets out: (C) (D) (E) how the Service Provider shall collect Revenue
GOOD GOVERNANCE FRAMEWORK
Provincial Roads Improvement (RRP CAM 43309) GOOD GOVERNANCE FRAMEWORK In all instances, the Loan Agreement shall be the overriding legal document. Asian Development Bank () Procurement Guidelines (2010,