Title: OACR audit focus
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 Material Information
Title: OACR audit focus
Series Title: OACR audit focus
Physical Description: Serial
Creator: Office of Audit & Compliance Review, University of Florida
Publisher: Office of Audit & Compliance Review
Publication Date: November 2003
 Record Information
Bibliographic ID: UF00087344
Volume ID: VID00006
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.

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'R Audit Focus


A quarterly newsletter from the Office of
Audit & Compliance Review (OACR)


Nur Erenguc, Chief Audit Executive
November, 2003


OACR Position Paper #2 Internal Controls and
Business Process Reengineering


bridges On September 9, 2003,
the OACR released its
second Enterprise Resource Planning
(ERP) Position paper entitled Internal
Controls and Business Process Reen-
gineering. As internal auditors, our
role includes the identification of op-
portunities for improvement of key
control and policy issues to be ad-
dressed during the course of the July
1, 2004 implementation of UF
Bridges- ERP. The University ERP im-
plementation provides the opportu-


nity to integrate business processes,
generate a comprehensive reporting
system, and provide an efficient and
effective processing environment
with recognition of different business
rules. Regardless of the funding
source, the same level of basic inter-
nal control objectives should exist
across the University and its affili-
ates. To view the full text of both
OACR position papers, visit the ERP
website, http://slate.erp.ufl.edu/


Inside this issue:



OACR Position
Paper #2 Internal
Controls and Busi- I
ness Process Re-
engineering
Retirement Plans I
and Options
Internal Controls:
Separation of Du- 2
ties
What happens
when OACR re-
ceives a com- 2
plaint involving
17scal miscon-
duct?















We're on the Web
at:
OACR.UFL.EDU


University Retirement, a
department of Human 4(.__
Resources, is responsi- '
ble for coordinating all
University of Florida
employee retirement and annuity
programs. Most university employees
have a choice of three primary retire-
ment plans: Florida Retirement Sys-
tem Pension Plan, Florida Retirement
System Investment Plan, and the
State University System Optional Re-
tirement Plan. Since the University is
in the process of transitioning to Peo-


pleSoft Human Resources Manage-
ment System on July 1, 2004, the Uni-
versity will acquire additional respon-
sibilities related to the management
of the retirement programs that cur-
rently reside with the Bureau of State
Payroll. Retirement plans were au-
dited to determine if employees were
enrolled timely and appropriately in
retirement plans to which they were
eligible. Adequate controls were in
place to ensure the proper admini-
stration of the University's retirement
plans & options.


Retirement Plans and Options


FLORIDABj












Internal Controls: Separation of Duties


OACR Address:

Office of Audit &
Compliance Review
341 Tigert Hall,
P.O. Box 113025,
Gainesville,
FL 32611

Tel: (352) 392-1391
Fax: (352) 392-3149



Editors
Liana Hadjigeorgiou
lianahcaufl.edu
William Moon
wmooncaufl.edu
Suzanne Newman
suzmcdcaufl.edu








We're on the Web
at:
OACR.UFL.EDU


reduce the risk of er-
ror or inappropriate
actions. For example,
Responsibilities for au-
thorizing transactions,
recording them, han-
dling the related asset, and monitor-
ing the activity should be separated.
Please refer to UF Policy Against
Fraudulent or Other Dishonest Acts at
http://oacr.ufl.edu.


What happens when OACR receives a complaint
involving fiscal misconduct?


The OACR maintains a
hotline at http://oacr.
ufl.edu/Hotline.htm (or
call 392-1391 ext. 30).
To facilitate reporting
of fiscal complaints,
every effort is made to protect the
identity of complainants. In most
cases, when a complaint is received
the first step is preliminary fact find-
ing. At the end of this stage, OACR


makes a determination of whether or
not to investigate and identify other
offices, if any, that should be in-
volved. If the OACR contacts you, you
can expect a courteous, thorough,
and professional interview intended
to develop relevant facts. At the end
of a review, the OACR reports its find-
ings to appropriate management and
if necessary to appropriate enforce-
ment agencies.


Office of Audit & Compliance Review
341 Tigert Hall
P.O. Box 113025
Gainesville, FL 32611


L\1 f"1 1 0


The administrator who is responsible
for the accomplishment of a unit's
goals and objectives is also responsi-
ble for establishment, maintenance,
and monitoring of the internal con-
trol system which keeps opportuni-
ties for fraud and error to a mini-
mum. One extremely important in-
ternal control is to ensure that duties
are properly separated. Duties must
be divided among different people to




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