Top 10 Suggestions for Internal Controls
And Successful Business Operations
- Set a strong example for the expectation of ethical behavior, compliance with laws/policies, and communicate your expectations routinely to your unit's personnel.
- Never sign something you don't understand.
- Limit signature authority and don't let anyone sign your name (an employee should sign their own name). Never use a signature stamp.
- If something doesn't make sense ask questions about it until it does. Pay attention to what your employees are doing.
- Be familiar with University policies and procedures. Be willing to call and ask questions.
- Consider unique risks your unit may have (i.e. cash collections, contracts and grants, etc.) and ensure additional oversight is provided.
- Ensure accounts are reconciled monthly and review this reconciliation for any unusual transactions. (This should include a review of payroll and leave reports.)
- Don't let one employee have complete control of any process.
- Keep offices and labs locked to protect property, data, and other resources. (Remember to shred paper documents with identifying information.)
- Ensure University assets are used for University business.