Understanding Internal Controls

Understanding Internal Controls A Reference Guide for Managing University Business Practices Introduction As servants of public trust, the University System of Georgia (USG) has a great responsibility to utilize the resources provided in the most effective and efficient ways possible while adhering to laws and regulations. A strong system of Internal Controls is paramount to properly managing USG s resources within the related business processes. Every employee within the USG has some role in effecting Internal Controls . Roles vary with responsibility, however, Business Officers play a key role in assuring that high standards of business and ethical practices are followed because they are ultimately responsible for the appropriate use and control of the resources entrusted to them.

management process (i.e., plan, organize, direct, and control). Internal control keeps an organization on course toward its objectives and the achievement of its mission, and minimizes ... Show interrelationships between the various components of internal controls 2) Provide suggestions to …

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