Ubc - Recommended Financial Controls

Recommended ingrained Controls over Financial Reporting: At the University of British Columbia (UBC) Introduction This paper not only addresses the risks point at UBC based on the traditional internal controls compulsory for both organization, but includes the internal controls required to behave UBCs unsex and evolving business pretence. This analysis was conducted using the framework provided by the Internal Control over Financial Reporting- Guidance for small popular Companies created by Committee of Sponsoring Organizations (COSO). UBC VALUES People instruction Research Community Internationalization As a not-for-profit organization, the pass around of Governors has a high level of accountability to stakeholders. Orientation and educate programs for the Board of Governors ar necessary to ensure their ability to secernate and value risk. To equip the changing market place and argue in the current economic environment UBC is adjusting its b usiness model to resign international / aboriginal and national online learning. An increase on dependability on Information Technologies (IT) services and support is required. concordant with new(prenominal) industries fraud particularly, in the form of cash, represents the most significant risk.

knell for internal controls include: segregation of duties in regard to romp roles; documentation in the form of sequential numbered cheques and authorization processes such(prenominal) as co-signatures on cheques. Technology Due to the evolving technological society, UBC has employ various(a) means of se rvice delivery to cater to the needs of the ! 50,000 several(a) UBC students internationally. interactional teaching devices, course packs delivered through the web and online cohort studies are a few of the technologies used at UBC. To meet the ripening demand, UBC must ensure there is a true set of controls in place to meet their vision and support the on line community. Risks to UBCs IT must be rationalize because the financial...If you postulate to get a full essay, order it on our website: OrderCustomPaper.com

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