Title: OACR audit focus
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Permanent Link: http://ufdc.ufl.edu/UF00087344/00021
 Material Information
Title: OACR audit focus
Series Title: OACR audit focus
Physical Description: Serial
Language: English
Creator: Office of Audit & Compliance Review, University of Florida
Publisher: Office of Audit & Compliance Review
Place of Publication: Gainesville, Fla.
Publication Date: 2007
 Record Information
Bibliographic ID: UF00087344
Volume ID: VID00021
Source Institution: University of Florida
Holding Location: University of Florida
Rights Management: All rights reserved by the source institution and holding location.

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UNIVERSITY of
^^^ ^^^ UF FLORIA


ICR Audit Focus

i


A quarterly newsletter from the Office of
Audit & Compliance Review


Nur Erenguc, Chief Audit Executive


P r A u*t i g


7 / Continuous auditing
A is a methodology
that allows monitor-
ing of specific busi-
ness process to assure that internal
controls are in place and operating
effectively.

Significant dollar values and transac-
tional volume make purchasing card
disbursements an area where strong
oversight and continuous auditing
minimizes misuse. This year, our of-


fice will implement yearly audits of
purchasing cardholder's transactions.
The audit objectives will be to evalu-
ate valid business use of the PCard.
We encourage units to keep support
for purchasing card transactions, in-
cluding purchasing card reports and
receipts. Units should also monitor
proper PCard use.

For detailed PCard information refer
to http://purchasing.ufl.edu/
main purchasingcards.asp.


SControl Self A -CSA) V a ld ai


Inside this issue:







































Ve're on the \Veb at:
www.oacr.ufl.edu


* Compensating controls when seg-
regation of duties was not feasible.
* Review of both preliminary and
final paylists.
If you have questions, please contact
Marilyn Velez, 392-1391, extension 38
or by email at mivelez@ufl.edu.

The Control Self Assessment tool
(CAT) is a permanent feature on our
web site at http://oacr.ufl.edu/
CSA.html. We recom-
mend that new staff and
those staff needing a
refresher take the sur-
vey to learn more about
effective controls as
they apply to their unit.


The Office of Audit and Compliance
Review visited 50 randomly selected
university units. The purpose of
these visits was to validate manage-
ment's responses to the CSA survey
conducted as of May 22, 2007 and
obtain support for certain control
procedures. Unit managers will re-
ceive letters indicating areas where
opportunities for improvement may
exist.

The following reflect areas of pre-
liminary concern, including a lack
of:
* Documentation of unit's operat-
ing procedures.






r |UNIVERSITY of
UF FLORIDA


A dte o Efforet IRprin


Off*e of Aui.
34 1 igetHal,

Gainesv ^ili,


The most significant change is that
faculty and Principal Investigators
will be asked to certify the accuracy
of an effort report, at the end of se-
mester, for themselves and those
whom they supervise.

It is the responsibility of each depart-
ment to ensure that all their Effort
Reports are correctly certified and
authorized. Additional information
on this process can be found at
http://hr.ufl.edu/training/myUFL/
toolkits/EffortReporting.htm


S We N w S


Maria Hine, Senior Auditor, joined us
on September 4th. Maria came to us
from McGregor & Co., LLP, an ac-
counting firm in Columbia, South
Carolina where she performed audit
engagements and prepared individ-
ual tax returns. Maria has a BS in
Business Administration with an em-
phasis in Accounting from Erskine
College in South Carolina. She may
be reached at 392-1391, extension 36
or email mwhine@ufl.edu.


Vito Hite rejoined OACR October 12
as a Senior Auditor. Vito has nearly
20 years auditing experience and
recently worked as an auditor for
AvMed Health Plans. He has an MBA
from Florida Institute of Technology
and has the CPA, CFE and CIA pro-
fessional certifications. He may be
reached at 392-1391, extension 33
or email ivhite@ufl.edu. See staff at
http://oacr.ufl.edu/Staff.htm.


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IIBH MuaS!l TPE
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Effort reporting is a
. .federal government
Mandated process to
ensure that charges to
federally sponsored projects are rea-
sonable and reflect actual work per-
formed. In order to provide assur-
ance that federal requirements are
being met, the Provost's Office,
Sponsored Research and the Control-
ler's Office have worked together to
implement changes that would im-
prove the process.




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