IAS-09-13 Audit News v3
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Shadow vs. Off-Books Resignation/Termination/Transfer Procedures Accounting Records Human Resources has developed a checklist to We have received questions concerning the facilitate the resignation, termination or transfer propriety of maintaining shadow accounting process. The process helps to ensure: records. In an effort to clarify any misunderstandings, we will define two types of non-Banner accounting records by their • USU property, keys, P-Card, ID card, etc. are purpose and appropriateness: returned • Services are discontinued–phone, email, etc. Shadow Records ARE Appropriate • Banner access permissions are terminated • Accounts are transferred, if applicable As the name implies, shadow records mirror the • Proxies are changed, if applicable transactions in Banner. The only difference between shadow records and Banner would be A checklist is available at the HR website: the timing of transactions. A shadow system http://www.usu.edu/hr/functions like a personal check register—it benefits/docs/facilitates reconciliations with Banner (similar to Termination%20Checklist%a bank in this analogy) and provides the most 20Rev.%2014,%2001-22-current balances. 2009.pdf Shadow records are a useful tool when used in conjunction with Banner. Banner is the (Shadow vs. Off-Book Accounting Records, cont’d) University’s accounting system and any shadow recordkeeping method should only be used to (ledger to ledger, index to index), then, they ...
Voir
We have received questions concerning the
propriety of maintaining shadow accounting
records.
In
an
effort
to
clarify
any
misunderstandings, we will define
two types of
non-Banner
accounting
records
by
their
purpose and appropriateness:
Shadow Records
ARE
Appropriate
As the name implies, shadow records mirror the
transactions in Banner. The only difference
between shadow records and Banner would be
the timing of transactions. A shadow system
functions like a personal check register—it
facilitates reconciliations with Banner (similar to
a bank in this analogy) and provides the most
current balances.
Shadow records are a useful tool when used in
conjunction with Banner. Banner is the
University’s accounting system and any shadow
recordkeeping method should only be used to
reconcile and review the transactions reported
in Banner. Shadow records should never
replace Banner.
Off-Books Records
ARE
NOT
Appropriate
In contrast to shadow records, off-books
records do not
m
i
r
r
o
r
t
r
a
n
s
a
c
t
i
o
n
s
i
n
B
a
n
n
e
r
.
Instead, transactions are detailed only in an off-
books ledger, spreadsheet or accounting
software.
The
transactions
are
usually
combined in Banner.
When transactions are not reflected the same
in Banner as they are in off-books records
Shadow vs. Off-Books
Accounting Records
(Shadow vs. Off-Book Accounting Records, cont’d)
(ledger to ledger, index to index), then, they
are not readily available for review or audit.
M
a
n
a
g
e
m
e
n
t
o
r
a
u
d
i
t
o
r
s
s
h
o
u
l
d
b
e
a
b
l
e
t
o
review transactions without having to rely on
off-books data to determine the nature of
transactions or the individual balances.
Human Resources has developed a checklist to
facilitate the resignation, termination or transfer
process. The process helps to ensure:
•
USU property, keys, P-Card, ID card, etc. are
returned
•
Services are discontinued–phone, email, etc.
•
Banner access permissions are terminated
•
Accounts are transferred, if applicable
•
Proxies are changed, if applicable
A checklist is available at the HR website:
http://www.usu.edu/hr/
benefits/docs/
Termination%20Checklist%
20Rev.%2014,%2001-22-
2009.pdf
Resignation/Termination/
Transfer Procedures
IN THIS ISSUE
1
Shadow vs. Off-Books Accounting Records
1 Resignation/Termination/Transfer Procedures
2 Management Responsibility for Effective
Controls
2
Board of Regents’ Policy R581
Audit News
A Publication of Internal Audit Services
Utah State University
Old Main Hill, Room 63
Tel.: 435-797-1084 *
Hotline: 435-755-7118
http://www.usu.edu/ias/
Board of Regents’ Policy
R581—
Payment of Dues and
Memberships
Management Responsibility for
Effective Controls
In Issue 6 of the
Audit News
(IAS-07-35, July
2007), we defined a control as anything which
helps the University meet its objectives and
employees to complete their jobs effectively.
Although management may consult internal
auditors to help evaluate procedures, policies
and risks, ultimately, managers and supervisors
are responsible for establishing effective
controls for their unit/organization.
Management must understand the primary risks
in their operation or department and develop
controls to manage and mitigate those risks.
Overall, the goal of a control is to help ensure
an organization meets its objectives.
What is an effective control?
•
Provides reasonable (not
absolute)
assur ance
t he
organizations goals are being met
•
Helps prevent or detect errors
•
Is cost effective when compared to the
costs of the possible errors
•
Should be up-to-date to address current
processes, business conditions and policies
•
Communicated to all employees responsible
for implementing the control
•
Should not be redundant or excessive
We are in the process of developing a
comprehensive reference guide* to help
managers
understand
different
types
of
controls and how they apply to their operations.
When it is completed, it will be posted on our
website. We will let you know when it is done.
*
Thank you to Assistant Vice President Dan Sampson,
CIA, Office of the President, University of California for
allowing us to adapt their guide for USU
.
Board of Regents’ Policy R581 governs
institutional funds to purchase membership in
various organizations. The policy differentiates
between organizational dues or membership
and
individual
employee
membership
in
professional organizations or certifications.
Per section 3.1 of the
Payment of Dues and
Memberships
Policy R581, the President is
“authorized to approve the payment of
organizational dues and memberships as
required and deemed necessary for the
effective operation of said public university…”
In addition, the President’s approval is required
for
individual
memberships—meaning
the
membership is in the name of an employee, not
the University, college or department.
Section
3.2 of the policy states:
“Funds administered by
any institution will no
t
b
e
u
s
e
d
t
o
a
c
q
u
i
r
e
memberships in associations required or
desired
by individuals with current employment
assignments….exceptions may be made only
with the authorization of the President or
appropriate administrative officers designated
by her or him.”
