Best practices and internal control

Following the procedures described in the University Administrative Manual will accomplish many best business practices. To further develop best practices, department administrators should understand some internal control concepts, including:

  • Consistency, efficiency and effectiveness
  • Segregation of duties
  • Authorization and training
  • Review and approval
  • Safeguarding assets

Apply the general tips below to improve the operations in your department.

Internal control concepts

General tips

  • Be familiar with all of the policies, procedures, laws and regulations governing university operations. These include the following:
  • Keep written procedures for your department's cash handling and accounting functions. These procedures should specify who does what and should be updated as needed.
  • If you are a principal investigator, comply with the sponsor's requirements for accountability.
  • Fulfill your responsibility yourself, do not delegate your accountability functions.
  • In the case of a mistake, submit appropriate documents to correct the mistake as soon as possible.