Understanding Internal Controls

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Understanding Internal Controls A Reference Guide for Managing University Business Practices Understanding Internal Controls Table of Contents BALANCING RISK AND CHARACTERISTICS FOR Internal CONTROL Internal CONTROL CONTROL RISK CONTROL INFORMATION AND APPENDIX A BUSINESS CONTROL Understanding Internal Controls 1Introduction The University of California is entrusted with great resources and commensurately great responsibilities for the creation, dissemination, and preservation of knowledge.

Understanding Internal Controls 6 Purchasing Manual Personnel Memorandum • Make sure that the department has well -written departmental policies and procedures manual which addresses its significant activities and unique issues. Employee responsibilities, limits to authority, performance standards, control procedures, and

  Understanding, Memorandum