Accounting, Controls and Budgets

Accounting, Controls and Budgets

The pages under this tab will provide you with basic information regarding the internal control structures and fraud prevention, accounting and budgeting, and finally eReports and Financial Reconciliation. 

Contents

Accounting Structure
Budgets
Internal Controls
Fraud Prevention

 

Internal Controls

As a major public institution, The Ohio State University is held to a high level of accountability for its business practices. Accordingly, every effort must be made by all employees to ensure that funds are used in a responsible and appropriate manner consistent with the university’s mission, applicable law, and ethical practice.
 
The university operates in a decentralized and internal control environment with the dean or vice president of each college or support unit responsible for the financial operations, budget, internal controls and monitoring activities of their area.
 
Internal control requirements must be in place within each decentralized area in order to create an environment of accountability with effective monitoring and oversight.
 

Fraud Prevention

Anonymous Reporting Line

Financial fraud is defined by University Rule 3335-5-04 “as a deliberate act or deliberate failure to act that is contrary to law, rule, or policy with the intent to obtain unauthorized financial benefit from the university for oneself, one’s family, or one’s business associates. Financial fraud includes, but is not limited to, misappropriation of university funds or property, authorizing or receiving compensation or reimbursement for goods not received or services not performed or hours not worked, or unauthorized alteration of financial records.” 

CFAES takes fraud prevention seriously including implementing controls to mitigate the risk to the university. This means that at least two individuals are always involved in every transaction (segregation of duties) and that appropriate individuals are placed in approval roles (empowered with the expectation and the authority to say no if needed to transactions that are inappropriate). 

Internal Controls and Fraud Prevention Tools Format Description
Sending Secure Email Weblink OCIO guidelines on sending encrypted emails
OSU Policy on Internal Controls (1.11) pdf University guidelines on internal controls
Office of Business and Finance Weblink Department in charge of setting guidance for internal controls
FAES Internal Control Structure pdf The ICS encourages adherence to policies and procedures, assures segregation of dutires, provides delegated approval authority and safeguards assets. 
OSU Carmen Course - Internal Controls Weblink a self-enrolled course for employees regarding internal controls
Reporting and Investigating Financial Fraud (1.15) pdf University guidelines on fraud prevention and reporting
OSU Internal Audit Weblink Department in charge of monitoring fraud issues
OSU Carmen Course - Understand & Prevent Fraud Weblink a self-enrolled course for employees regarding fraud prevention
OSU Carmen Course - Institutional Data Policy Weblink a self-enrolled course for all employees on security of University resources

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