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Internal Control Tip of Week – Mitigating Risks Associated with Employee Turnover

By Thomas Canby posted 02-02-2017 09:15

  

Last week’s article mentioned the costly consequences that can result from data accuracy issues. It’s important to also have a healthy respect for how employee turnover is correlated with increased levels of risk because of the inherent complexity of managing the numerous moving parts in a public school system, a majority of which are linked to compliance-related laws, rules and regulations.  Accordingly, employee turnover can be an issue even in the best of situations where the prior employee(s) left behind sufficient documentation of procedures, policies and process workflows, in addition to documentation of key controls.  To help public schools mitigate risks in this area, TASBO provides a mentoring program in four areas for school finance and operations to TASBO members who have been at their new position for less than two years.

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