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Internal Control Tip of Week - Use Automated Alerts to Flag Potential Issues

By Thomas Canby posted 03-04-2016 08:08

  

Administration of the public school system involves direct and indirect interactions with seemingly innumerable moving parts and it is possible to miss certain details that may require attention. To help minimize missing a critical detail or deadline, review features in financial management systems for generating alert reports. Alert reports are helpful to highlight unusual accounting transactions, unreasonable variances between purchase order and invoiced amounts, and other critical exceptions, including potential violations of requirements in local policies and procedures. An internal control consideration is whether certain alerts should also generate communications to individual(s) outside of the primary office of responsibility.

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