Written Procedures

Detailed written procedures for all of the financial operations of the department are essential. The procedures provide management, employees, and auditors with information related to the adequacy of the internal controls. The lack of complete procedures increases the risk of loss of funds, theft of university assets, and disruption of the operation. Written procedures are also beneficial for the training of current and new employees and are a valuable resource in the event an employee leaves the department. The procedures should include sufficient information to permit an individual, who is unfamiliar with the operations, to perform the necessary financial activities.