“OIA Panther Audit Platform will help you manage your outstanding audit issues.”

GETTING AHEAD OF THE CURVE

Here are five common issues found during recent audits completed by our office and how
to prevent them from occurring in your unit:

  • Attractive/sensitive property is not cataloged or properly managed.
    Mitigation: Management should develop and disseminate operating procedures
    for managing attractive/sensitive property. This procedure should include: the
    definition of attractive/sensitive property, the type of information to catalog, the
    frequency at which inventory should be updated, the process for moving property,
    and the appointment of a person who is responsible for inventory controls. For
    more guidance, you can review FIU Policy 1130.010 Property Control.
  • Business unit managers are not approving employee time/leave payroll
    entries and employees are self-approving time/leave payroll entries.
    Mitigation: Business unit managers should create an internal deadline for time
    entry and manager’s approval and restrict the delegation of approval. Require and
    maintain documentation of leave activity if approver is not the employee’s direct
    manager. Employees should obtain prior written approval from their supervisor if
    they are proxies for self-approving time/leave payroll entries. Managers and
    proxies should approve entry by “2:00 p.m. of the following Monday” deadline.
  • Employees improperly or failed to complete the Outside Activity/Conflict
    of Interest (OA/COI) Forms.
    Mitigation: Unit management should create an internal process to periodically
    notify all supervised employees to complete OA/COI forms and monitor for
    completion.
  • Employees incurred unallowed and unsupported credit card purchases.
    Mitigation:Unit managers should develop internal procedures for P-Card use. If
    unsure about a purchase, please review the guidelines in the P-Card Program
    Manuals before proceeding. In addition, employees should obtain and provide
    original receipt/invoice for all purchases that contains: vendor name and address;
    date of purchase; date the goods were received; description of each item
    purchased; unit cost of each item purchased; purpose of the purchase; and the
    total cost of the purchase charged to the departmental card.
  • Business unit managers did not approve the secondary employment
    contract until after the start or completion of contract.
    Mitigation: Review FIU Policy 1710.110, Dual Employment and Compensation.
    Business unit management should inform all supervised employees regarding the
    need to have eRequest for Additional Compensation (eRAC) approved before the
    contract commences. In addition, managers must timely approve eRAC and
    obtain supplementary required approvals from the dean or supervisor.
RECENT SUCCESS

Recent audits of FIU’s Treasury Management function and Accounts Receivable
found adequate internal controls and well-functioning operations in both areas.
Effective processes included:

  1. Investment portfolio performance
  2. Compliance with debt covenant,
  3. Cash control policy,
  4. Safeguarding sensitive data, and
  5. Accounting for receivables for student tuition and fees, third party contracts, and
    interest.

You can find these reports on the following link: oia.fiu.edu/internal-audit-reports

GET READY FOR THE OIA PANTHER AUDIT PLATFORM FOR FOLLOWING
UP ON YOUR AUDIT ISSUES AND ACTION PLANS

The State University System of Florida Board of Governors, FIU Board of
Trustees, University President Rosenberg, and the Office of Internal Audit expect
the department managers, units, and colleges audited to address audit
recommendations and complete action plans in a timely manner. The Office of
Internal Audit developed a tool to assist all departments, units, and colleges
audited in managing their audit landscape, including the follow-up process on
outstanding audit recommendations. The tool, the OIA Panther Audit
Platform, is an efficient, user-friendly platform that provides a centralized place to
manage the audit follow-up process.

The Office of Internal Audit will launch the OIA Panther Audit Platform in the
upcoming months once full testing is completed. You will also find a link to
instructional and training content on the Platform’s landing page. Stay tuned and
be on the lookout for this helpful tool!

OTHER RESOURCES
  • Need to report fraud, waste, and abuse? You may do so at:
    https://compliance.fiu.edu/hotline (hotline) / or auditors@fiu.edu
  • Need to report a Whistle-blower complaint? You must do so in writing to
    the OIA or call us at the contact information listed below.
  • State University System of Florida Board of Governors’
    Regulations: flbog.edu

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