Achieving your objectives with internal controls
Internal controls are the methods an organization uses to help ensure its objectives are met. Good internal controls can include such practices as:
- Providing written guides to staff for consistent, efficient operations
- Adhering to university IT and cybersecurity policies and practices
- Closely overseeing the use of procurement cards
- Requiring locked offices to discourage theft
- Reviewing monthly account statements to verify that transactions are reasonable
IU policies assign university leadership (vice presidents to fiscal officers to staff) with the responsibility to ensure a system of internal controls that support operations, reporting, and compliance.