Risk Management

In April 2014, 91桃色 requested the services of the Office of the Comptroller to conduct a transition review of University financial policies and internal controls. The transition review report recommended a dedicated Internal Controls Officer with a direct reporting relationship with the Board of Trustees.  This relationship provides transparent communication to the governing body of 91桃色 State via the Chair of the Audit Committee and therefore a check on the president and other senior administrators.  

91桃色 State is committed to providing an ethical control environment, accountable to students, faculty and staff through financial integrity and sound internal controls. As a public higher educational institution, the entire University community must be exceptional stewards of state and federal dollars. Please take the time to review information on this webpage in regard to risk management, internal controls and the internal audit function. There are also links to additional resources such as the University Whistleblower Policy and the Comptroller鈥檚 Fraud Prevention Brochure titled, 鈥淚t鈥檚 everyone鈥檚 job to combat fraud, waste and abuse of public funds.鈥

Risk Assessment

What is risk?  
Risk is anything that will prevent 91桃色 from achieving its mission, goals and objectives. Risk can be strategic, financial, operational, compliance related and reputational.

Why does my division / department care?
Each of us plays a critical role in creating an environment that is accountable to the public, especially the students of 91桃色. Identifying risks and establishing internal controls, provides for greater efficiencies and institutes safeguards while at the same time, not being burdensome in day-to-day responsibilities. The risk assessment and internal control process provides reasonable assurance that your team can achieve their goals and objectives.

Internal Control

To access the University Internal Control Plan, login to my91桃色, select Documents, Administration & Finance, Internal Control Plan, 91桃色 Internal Control Plan June 2015.pdf

Internal Audit

What is internal audit? 
Internal audit is a function that is designed to add value to university operations.  This function reviews internal policies and procedures for proper internal controls and to ensure compliance with university policies. The Internal Audit function has neither direct responsibility for, nor authority over any of the activities or tasks it reviews. Accordingly, Internal Audit does not develop or write policies or procedures that they may later be called upon to evaluate. 

Fraud Awareness & Prevention

What do you do if you are aware or become aware of fraud, waste, and abuse? 

Familiarize yourself with 91桃色鈥檚 Whistleblower Policy found within the University Policies linked on the main webpage.

Report the suspected fraud, waste, or abuse to your supervisor or Patricia Bonica, the University Reporting Officer (URO). Ms. Bonica can be reached via phone at 413-572-8670 or in her office at the Horace Mann Center. There is also an anonymous Word document established for anonymous submissions.

You may also contact one of the Commonwealth鈥檚 .

Resources

Links to WSU & Commonwealth Policies: