Section 1: Internal Control

PURPOSE/SCOPE

To provide an overview of the Monitoring Activities element of internal control.

AUTHORITY

UT System policy UTS142.1 assigns direct responsibility to the Institutional Financial Reporting Officer to establish internal controls over the preparation of the Annual Financial Report (AFR). Monitoring activities are essential for effective internal control.

UNIVERSITY GUIDELINES

The performance of internal control systems must be monitored and periodically assessed, and any deficiencies must be reported and corrected. For an example of a monitoring activity, see UTSA Financial Management Operational Guideline (FMOG) Monitoring Plan for Segregation of Duties and Reconciliation of Accounts. Other examples include the testing of Fiscal Management Sub-Certifications (see FMOG Fiscal Management Sub-Certification Work Plan) by the Office of Audit, Compliance and Risk Services. For more information on monitoring activities, see the Audit, Compliance and Risk Services website.

For an overview of internal control, see FMOG Internal Control Overview.

DEFINITIONS

REFERENCES/LINKS

• UTSA Audit, Compliance and Risk Services website
  (http://www.utsa.edu/acrs/)

• UT System policy UTS142.1 - Policy on the Annual Financial Report (http://www.utsystem.edu/policy/policies/uts142_1.html)

• UTSA Management Responsibilities Guide
  (http://www.utsa.edu/acrs/leadershipaccount/MRG/MRGDOC/MRG_home.html)

RELATED FORMS/WORKSHEETS

None at this time.

REVISION HISTORY