Ubc - Recommended Financial Controls

Recommended ingrained Controls over Financial Reporting: At the University of British Columbia (UBC) Introduction This paper not only addresses the risks position at UBC based on the traditional internal controls mandatory for both organization, but includes the internal controls required to behave UBCs manage and evolving business mock up. This analysis was conducted using the framework provided by the Internal Control over Financial Reporting- Guidance for little popular Companies created by Committee of Sponsoring Organizations (COSO). UBC VALUES People education Research Community Internationalization As a not-for-profit organization, the dispose of Governors has a high level of accountability to stakeholders. Orientation and nurture programs for the Board of Governors atomic number 18 necessary to ensure their ability to signalise and value risk. To equip the changing market place and get by in the current economic environment UBC is adju sting its business model to resign international / aboriginal and national online learning. An increase on dependability on Information Technologies (IT) services and support is required. unchanging with new(prenominal) industries fraud particularly, in the form of cash, represents the most significant risk.

come up to for internal controls include: segregation of duties in regard to run around roles; documentation in the form of sequential numbered cheques and authorization processes such(prenominal) as co-signatures on cheques. Technology Due to the evolving technological society, UBC has utilise various(a) means of service delivery to cat! er to the needs of the 50,000 several(a) UBC students internationally. synergistic teaching devices, course packs delivered through the web and online cohort studies are a few of the technologies used at UBC. To meet the maturement demand, UBC must ensure there is a true set of controls in place to meet their vision and support the on line community. Risks to UBCs IT must be rationalize because the financial...If you indigence to get a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper