Announcements
Posted: Thursday, February 10, 2011Internal Control Standards
From the Vice President for Finance and Management
The Internal Control Act of the State of New York requires Buffalo State College to communicate the following information on agency responsibilities and standards:
The internal control standards define the minimum level of quality acceptable for internal control systems in operation and constitute the criteria against which systems are to be evaluated. These internal control standards apply to all operations and administrative functions (both manual and automated), but are not intended to limit or interfere with duly granted authority related to development of legislation, rule making, or other discretionary policy making in an agency.
General Standards
1. Reasonable Assurance. Internal control systems are to provide reasonable assurance that the objectives of the systems will be accomplished.
2. Supportive Attitude. Managers and employees are to maintain and demonstrate a positive and supportive attitude toward internal controls at all times.
3. Competent Personnel. Managers and employees are to have personal and professional integrity and are to maintain a level of competence that allows them to accomplish their assigned duties, as well as understand the importance of developing and implementing good internal controls.
4. Control Objectives. Internal control objectives are to be identified or developed for each agency activity and are to be logical, applicable, and reasonably complete.
5. Control Technique. Internal control techniques are to be effective and efficient in accomplishing their internal control objectives.
6. Continuous Monitoring. Agency heads are to establish and maintain a program of internal review designed to identify internal control weaknesses and implement changes needed to correct the weaknesses.
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