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 2004
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Bibliographic ID: UF00087344
Volume ID: VID00010
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


Nur Erenguc, Chief Audit Executive
November, 2004


Restricted Gifts


Funds for Eminent Scholar Chairs, en-
dowed professorships, scholarships
and fellowships transferred by the
University of Florida Foundation, Inc.
to the University are restricted for
use by donor wishes known as donor
intent. To aid the interface between
the University and the Foundation,
the University has usually estab-
lished specific recipient accounts to
receive these restricted funds. Fund
administrators, deans, directors and
the appropriate vice president are re-
sponsible for the administration and
use of these funds in accordance


with donor intent. They should un-
derstand donor intent to effectively
administer and monitor fund use and
should educate staff involved in the
disbursement process. The annual
OACR audit determined general com-
pliance with donor intent in the use
of restricted gifts. Issues identified
and communicated included evalua-
tion for awards and improved under-
standing in the use of Eminent
Scholar funds. For further informa-
tion call Carole Silverman at OACR at
392-1391, ext. 30 or e-mail
csilver@ufl.edu.


Inidetiise











Res ri te Gifts I







Audit

Bridges


The University is five months into
the first year using PeopleSoft, the
web-based, integrated computer sys-
tem for UF financial, payroll, and hu-
man resources functions. The new
system brought the largest changes
ever made in UF business processes.
Many of these new processes are
complex. As such, there is more risk
that errors or irregularities may oc-
cur. Identifying risks leads directly
to determining control points that
can be implemented to help mitigate


them. To do this, each staff member
must be alert to any weaknesses in
the processes they work with each
day. Reconciliation of accounting re-
cords should continue to be prepared
periodically and reconciliations
should be resolved timely. Be proac-
tive in getting the training you need.
Refer frequently to the Bridges web
page "Get Trained" for new informa-
tion. OACR is available to assist in
reviewing internal controls; call 392-
1391 or e-mail auditor@ufl.edu.


Bridges: Transition Includes Risks W S


FLORIDABj













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
William Moon
wmooncaufl.edu
Suzanne Newman
suzmcdcaufl.edu











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


Two New Staff at OACR!

Marilyn Velez, Senior
Auditor, joined OACR
on October 8. Marilyn
came to us from UF Ac-
counting Services
where, as an account-
ing coordinator for financial report-
ing, she worked on UF's financial
statements. She has a Bachelor's de-
gree in business administration with
a major in accounting from the Uni-
versity of Puerto Rico. She previ-
ously worked for Ernst & Young
CPAs. Marilyn can be reached at 392-
1392, ext. 23 or by email at
mjvelez@ufl.edu.

Is there a cut-off time
the new system?

The Bridges website for Frequently
Asked Questions says, "No, the sys-
tem will allow you to request leave at
any time. However, it is highly rec-
ommended that your college and/or
department have an internal policy
regarding this." The myUFL menu
called "Manager Self Service" is for
approvers to check on a regular basis


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


Lily Nguyen, Staff
Auditor, joined us on
November 1. Lily is a
UF graduate with
Bachelor's degrees in
both Accounting and
Economics. She came to us from the
UF Libraries where she worked in Col-
lection Management. Lily is currently
working at the UF Bridges office
where she is assisting on a Manage-
ment Advisory Services project exam-
ining role security management. She
can be reached at 392-1391 or by
email at lnguven@ufl.edu. See our
staff at http://oacr.ufl.edu/Staff.htm.

for requesting leave in



for leave requests and to approve
time. A word of caution: entering
leave too late in the pay period and
not getting it approved before the
pay period ends may cause a deduc-
tion from your paycheck for the un-
approved leave time. Be sure that
you know that your request has been
approved on time.




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