FINANCIAL CONTROLS SELF-ASSESSMENT
CHECKLIST
The following is an example of the financial controls self-assessment checklist which is provided for information
purposes only. The official version is accessible during the annual self-assessment process through a secure
system, by individuals designated by the Senior Financial Officer for each faculty/VP portfolio.
This example of the financial controls self-assessment checklist is organized into the following sections, covering
controls for which units are responsible:
1.
2.
3.
4.
5.
6.
7.
8.
Financial Administration
Cash Sales
Cash Handling
External Billing
Payroll
Procurement and Supplier Payments
Travel and Expense
Equipment Assets
1. Financial Administration (13 controls)
Section Overview: “The Board of Governors of the University of Alberta is accountable for the effective and
efficient stewardship of University funds.
As well as legislative related compliances, a large component of the funding received by the University is restricted
in use by the terms and conditions attached by sponsors and donors. These and other requirements compel the
University to have an effective system of financial internal controls.
A system of financial internal control consists of the policies and procedures established and maintained by
administration to assist in achieving its objective of ensuring, as far as practical, the orderly and efficient conduct
of the entity’s business.
The University’s system of financial internal controls consists of policies, procedures and financial systems that
provide for financial transaction processing as well as financial reporting for control, planning and decision making
purposes. These policies, procedures and financial systems support many areas such as the determination and
collection of revenues, control of expenditures, safeguarding of assets and management of liabilities and risks.
Financial controls provide guidance on the authorization of transactions and activities, appropriate segregation of
duties, adequate documents and records and adequate safeguards over access to and use of assets and records.”
(Excerpt: Financial Management and Practices Policy)
This Checklist section is applicable to all units.
UAPPOL:
Administrative Information System Access and Maintenance Procedure (AISAMP)
Conflict Policy - Conflict of Interest & Commitment, and Institutional Conflict
Fraud and Irregularity Policy
Guide references:
Chapter 4: Chart of Accounts
Chapter 6: General Financial Information\Financial Management and Practices Policy
Chapter 6: General Financial Information\Month-end Schedule
Chapter 6: General Financial Information\Year-end Schedule
Chapter 6: General Financial Information\Signing Authority and Approvals\Signing Authority & Approval
Procedure
Chapter 6: General Financial Information\Transaction Corrections
Chapter 6: General Financial Information\Transaction/Report Review and Verification
Chapter 10: Cash Handling, Receipting, Depositing, and Banking\ Banking Policy
Is the control fully implemented?
Expected Key Controls
Yes
Familiarity with Policy and Procedure
1.
Staff members have up-to-date position
descriptions with clearly defined financial roles and
responsibilities.
[Guide Ch 6, Financial Management and Practices
Policy]
Comments:
No, but
will
implement
No, can’t
implement
Not
applicable
2.
3.
Staff members with a financial role have the
knowledge, training and skills necessary to
perform their jobs, and take advantage of ongoing
training opportunities. [Guide Ch 6, Financial
Management and Practices Policy]
The unit ensures that core unit personnel (e.g.
admin staff, faculty) are aware of obligations to
report fraud and financial irregularity, if observed.
[UAPPOL Ref: Fraud and Irregularity Policy]
Comments:
Comments:
Validity of Transactions
4.
5.
6.
7.
8.
9.
Delegation of signing authority is properly
documented and retained on file.
[Guide Ch 6, Signing Authority & Approval
Procedure]
The unit ensures that transaction coding
corrections are done in the originating PeopleSoft
module.
[Guide Ch 6, Transaction Corrections]
Units with General Ledger (GL) interfaces (masks)
only:
The unit: (1) uses each GL interface only for the
purpose for which the interface was set up; and
(2) obtains the required authorizations for
interface transactions before submitting the
interface for processing.
Staff members’ access to financial information and
systems (e.g., PeopleSoft) is regularly reviewed by
the Senior Financial Officer. When position or role
changes occur, access is updated and authorized
accordingly, the appropriate training is provided,
and segregation of duties is maintained.
[UAPPOL Ref: AISAMP;
Guide Ch 6, Financial Management and Practices
Policy]
Staff members are aware that: (1) only funds to
which the UofA is legally entitled are accepted and
deposited to UofA bank accounts and administered
through the University financial system; and (2) all
UofA funds must be deposited to UofA bank
accounts and accounted for within the University
financial system.
[Guide Ch 10, Cash Handling, Receipting,
Depositing and Banking, Banking Policy ]
The unit ensures that all staff members to whom
the Conflict Policy – Conflict of Interest and
Commitment and Institution Conflict applies
complete conflict of interest disclosure forms
annually and that appropriate personnel review
any conflict considerations.
[UAPPOL Ref: Conflict Policy]
Comments:
Comments:
Comments:
Comments:
Comments:
Comments:
Accuracy & Completeness of Financial Statements
10. The unit sends donations to the Office of
Advancement for processing immediately upon
receipt and ensures that donations are accounted
for in the fiscal year in which they are received.
11. The unit is aware of and complies with accrual
accounting requirements (primarily at year-end for
faculties, however, could be monthly and quarterly
Comments:
Comments:
for specific units and central services units).
[Guide Ch 6, Accruals]
12. The unit has procedures in place to ensure
transactions are recorded accurately and
completely by verifying financial reports on a
routine and regular basis (at minimum monthly).
Any errors or omissions are reported immediately
to the appropriate individual/unit.
[Guide Ch 6, Transaction/Report Review &
Verification]
13. The unit follows the financial month-end and yearend schedules to ensure that financial information
is accurate and up to date.
[Guide Ch 6, Month-end Schedule; Year-end
Schedule]
Comments:
Comments:
2. Cash Sales (10 controls)
Section Overview: Typically, the most significant risk to units with cash sales/external cost recoveries is the
theft of cash. Proper controls will ensure that cash is protected and accounted for, from receipt to deposit. Cash
sales may be made via currency, cheques, money orders, bank drafts, ePay and debit or credit card.
This section is applicable to units that have:
1.
Cash sales: sales of products and services where cash and GST is collected at the time the service or
product is supplied. Examples include sales of products such as books, food, plants and lab supplies or
charges for services such as consulting, conferences, camps, facility user fees, rental of facilities or
equipment, and library fines.
2.
External cost recoveries – revenue where the provision of services or products to external parties is
insignificant and is not the unit’s main line of business. Examples include student field trips and recovery
of photocopying, printing or long distance telephone costs.
Units to which this section applies must also complete Section 3: Cash Handling.
This section does not apply to:
1.
grants or contract payments for restricted research and special purpose. Research funds must be sent to
the Research Services Office for processing. Special purpose funds must be sent to Financial Services for
processing.
2.
revenue from the payment of University invoices generated through the PeopleSoft External Billing
module. Such payments must be forwarded to Financial Services for processing to accounts receivable.
Units that generate University invoices must complete Section 4: External Billing.
3.
donations, which units are required to send to the Office of Advancement for processing.
This Checklist section is applicable to our unit.
This Checklist section is not applicable to our unit because we do not conduct cash sales as defined above.
This Checklist section is not applicable to our unit because the Faculty/VP Office performs this function on
our behalf.
This Checklist section is not applicable to our unit because another unit performs this function on our behalf.
[Please indicate deptID and name of unit that performs this function:
]
Guide references:
Chapter 9: Sales of Services and Products\Cash Sales\Cash Sales Procedure
Chapter 10: Cash Handling, Receipting, Depositing, and Banking\Cash Sales Revenue Receipting Procedure
Chapter 10: Cash Handling, Receipting, Depositing, and Banking\Tender Types and Related Procedure
Expected Key Controls
Is the control fully implemented?
Yes
No, but will
implement
Familiarity with Policy and Procedure
1.
2.
3.
The Senior Financial Officer has authorized the
unit to accept cash sales and has approved the
tender type(s) the unit is permitted to accept, in
accordance with U of A guidelines.
[Guide Ch 9, Cash Sales Procedure]
Comments:
Staff members involved in the cash sales process
have read and comply with the related University
policies and procedures.
Comments:
If applicable, the unit has documented its
internal activities and controls related to cash
sales.
Comments:
No, can’t
implement
Not
applicable
Validity of Transactions
4.
5.
6.
The unit’s prices reflect the full cost of services
and products provided as well as the appropriate
GST assessment.
[Guide Ch 9, Cash Sales Procedure]
U of A prenumbered manual receipts or receipts
generated by an approved cash register are
issued: (1) for all cash sales; and (2) only when
the U of A is legally entitled to the proceeds.
(Note: Numerical order of manual receipts must
be maintained.)
[Guide Ch 10, Cash Sales Revenue Receipting
Procedure]
Refund transactions are processed via cash,
credit card or Payment Request in accordance
with U of A procedures.
[Guide Ch 9, Cash Sales Procedure;
Guide Ch 10, Tender Types and Related
Procedure]
Comments:
Comments:
Comments:
Accuracy & Completeness of Financial Statements
7.
8.
Internal Control ensures the correct chartfield
string (COA) and GST code have been specified
on the cash sales deposit. (Note: The unit must
request that a unique revenue account be
established for any new revenue generating
activity exceeding $100,000 annually.)
[Guide Ch 9: Cash Sales Procedure;
Guide Ch 9: Cash Sales]
The unit has procedures in place to ensure cash
sales are recorded accurately and completely by
verifying transactions recorded in the financial
system throughout the month. If the unit
identifies an error in excess of $50: (1) for other
than GST coding errors, if the unit has sufficient
information to make the correction, the unit
prepares a COA Correction – Request for General
Ledger Journal Entry-Online; (2) for all other
errors the unit requests FS Cashier to make the
correction.
[Guide Ch 9: Cash Sales Procedure; Guide Ch 10,
Cash Sales Deposit Procedure]
Comments:
Comments:
Retention and Filing of Source Documents
9.
The unit maintains orderly and secure records of
cash sales and refunds for six years plus the
current year.
[Guide Ch 9, Cash Sales Procedure]
Comments:
Segregation of Duties
10. Supervisory approval is required for all voids,
cancellations, or other alterations to cash register
tapes.
[Guide Ch 10, Cash Sales Revenue Receipting
Procedure]
Comments:
3. Cash Handling (12 controls)
Section Overview: Typically, the most significant risk to units that handle cash is the theft of same. Proper
controls will ensure that cash is protected and accounted for and any discrepancies are detected on a timely basis.
This section applies to unit that:
1.
receive cash on behalf of the University for sales and/or external cost recoveries (i.e. units that
completed Section 2: Cash Sales)
2.
handle petty cash for payment of small value purchases (i.e. postage, office supplies, reimbursement for
out-of-pocket expenditures).
This section does not apply to:
1.
grants or contract payments for restricted research and special purpose. Research funds must be sent to
the Research Services Office for processing. Special purpose funds must be sent to Financial Services for
processing.
2.
revenue from the payment of University invoices generated through the PeopleSoft External Billing
module. Such payments must be forwarded to Financial Services for processing to accounts receivable.
Units that generate University invoices must complete Section 4: External Billing.
3.
donations, which units are required to send to the Office of Advancement for processing.
This Checklist section is applicable to our unit.
This Checklist section is not applicable to our unit because we do not handle cash as defined above.
This Checklist section is not applicable to our unit because the Faculty/VP Office performs this function on
our behalf.
This Checklist section is not applicable to our unit because another unit performs this function on our behalf.
[Please indicate deptID and name of unit that performs this function:
]
Guide references:
Chapter 9: Sales of Services and Products\Cash Sales\Cash Sales Procedure
Chapter 10: Cash Handling, Receipting, Depositing, and Banking\Cash Handling Procedure
Chapter 10: Cash Handling, Receipting, Depositing, and Banking\Cash Register Float Procedure
Chapter 10: Cash Handling, Receipting, Depositing, and Banking\Cash Sales Deposit Procedure
Chapter 10: Cash Handling, Receipting, Depositing, and Banking\Petty Cash Procedure
Chapter 10: Cash Handling, Receipting, Depositing, and Banking\Tender Types and Related Procedure
Is the control fully implemented?
Expected Key Controls
Yes
Familiarity with Policy and Procedure
1.
2.
The Senior Financial Officer has authorized the unit
to handle cash and has approved the tender
type(s) the unit is permitted to accept in
accordance with U of A guidelines.
[Guide Ch 10, Tender Types and Related
Procedure].
Staff members involved in handling cash have read
and comply with the related University policies and
procedures.
Comments:
Comments:
No, but
will
implement
No, can’t
implement
Not
applicable
3.
If applicable, the unit has documented its internal
activities and controls related to handling cash.
Comments:
Validity of Transactions
4.
Petty cash purchases comply with U of A
purchasing procedures, and reimbursements are
disbursed only upon submission of original vendor
receipts.
[Guide Ch 10, Petty Cash Procedure]
Comments:
Timeliness
5.
All cash proceeds are reconciled and deposited in
an authorized UofA bank account in accordance
with specified timelines.
[Guide Ch 10, Cash Sales Deposit Procedure]
Comments:
Accuracy & Completeness of Financial Statements
6.
7.
8.
9.
All cheques and money orders are endorsed upon
receipt.
[Guide Ch 10, Cash Sales Deposit Procedure]
Cheques, currency and other forms of cash are
kept secure within the unit and are accessible only
by authorized staff members.
[Guide Ch 10, Cash Handling Procedure; Petty
Cash Procedure]
Internal Control: (1) performs the cash-deposit
reconciliation on the deposit form to confirm all
cash received was deposited, (2) verifies the
correctness of the deposit details, including
chartfield string (COA) and GST coding and (3)
signs the deposit form.
[Guide Ch 10, Cash Sales Deposit Procedure]
The unit has procedures in place to ensure cash
deposits are stated accurately and completely by
verifying transactions recorded in the financial
system throughout the month. If the unit
identifies an error in excess of $50: (1) for other
than GST coding errors, if the unit has sufficient
information to make the correction, the unit
prepares a COA Correction – Request for General
Ledger Journal Entry-Online; (2) for all other
errors the unit requests FS Cashier to make the
correction.
[Guide Ch 10, Cash Sales Deposit Procedure]
Comments:
Comments:
Comments:
Comments:
Retention and Filing of Source Documents
10. The unit retains copies of deposit forms and petty
cash transactions, including all back up
documentation, in an orderly and secure manner
for six years plus the current year.
[Guide Ch 10, Cash Sales Deposit Procedure
Comments:
Segregation of Duties
11. The unit ensures that the responsibility for
receiving cash is segregated from the responsibility
for depositing the cash. No one person is
permitted to handle the process from beginning to
end.
[Guide Ch 10, Cash Handling Procedure]
12. Cash floats/holdings are verified on a periodic
basis by someone who is not the custodian of the
cash.
[Guide Ch 10, Cash Register Float Procedure]
Comments:
Comments:
4. External Billing (12 controls)
Section Overview: This section is applicable to units that process external billings to request payment for services or
products. External billings must be processed by generating an invoice through the PeopleSoft Billing module or an
alternative system approved by Financial Services that interfaces with PeopleSoft Financials.
Units that do not bill through the PeopleSoft Billing module or an approved billing system face the risk of incorrect or
unauthorized billings or billing write-offs/adjustments, and unrecorded revenue.
This section does not apply to billings for restricted research and special purpose funds. Billings for such funding are
processed only by the Research Services Office or Financial Services.
This Checklist section is applicable to our unit.
This Checklist section is not applicable to our unit because we do not perform any activity that requires an external
party to be billed.
This Checklist section is not applicable to our unit because the Faculty/VP Office performs this function on our behalf
This Checklist section is not applicable to our unit because another unit performs the external billing function on our
behalf. [Please indicate deptID and name of unit that performs this function:
]
Guide references:
Chapter 6: General Financial Information\Retention & Filing of Source Documents
Chapter 6: General Financial Information\Source Documents
Chapter 6: General Financial Information\Transaction/Report Review and Verification
Chapter 9: Sales of Services and Products\External Billing\External Billing Procedure
Is the control fully implemented?
Expected Key Controls
Yes
No, but will
implement
Familiarity with Policy and Procedure
1.
2.
3.
Staff members involved in external billing have read and
comply with the applicable University policies and
procedures.
If applicable, the unit has documented its internal activities
and controls related to external billing.
University billings for external sales and services, and any
credit invoices, are recorded in the PeopleSoft Billing
module.
[Guide Ch 9, External Billing Procedure]
Comments:
Comments:
Comments:
Validity of Transactions
4.
5.
6.
The unit’s prices reflect the full cost of services and products
provided.
[Guide Ch 9, External Billing Procedure]
Comments:
The unit satisfies itself of the creditworthiness of the
customer prior to the provision of services or products.
[Guide Ch 9, External Billing Procedure]
Comments:
The unit ensures that a documented agreement is in place
(e.g., PO, contract, work order) between the unit and the
external party before a service or product is provided.
[Guide Ch 9, External Billing Procedure]
Comments:
No, can’t
implement
Not
applicable
7.
The individual that Internal Control reports to reviews all
credit invoices or adjustments to the original invoice to
ensure that they are legitimate and that an adjustment to
unit revenue is warranted and the reason recorded.
[Guide Ch 9, External Billing Procedure]
Comments:
Timeliness
8.
The unit ensures all billings are processed in a timely
manner upon delivery of the services or products.
[Guide Ch 9, External Billing Procedure]
Comments:
Accuracy & Completeness of Financial Statements
9.
Internal Control approves all invoices prior to being
processed, ensuring that the details of the invoice match
the supporting documentation and that the correct
chartfield string (COA) and GST code have been specified.
(Note: The unit must request that a unique revenue account
be established for any new revenue generating activity
exceeding $100,000 annually.)
[Guide Ch 9, External Billing Procedure]
10. On a monthly basis, the unit performs an aged invoice
query in order to review its overdue accounts and takes
appropriate action with its customers. The individual that
Internal Control reports to reviews all potential write-offs.
[Guide Ch 9, External Billing Procedure]
11. The unit has procedures in place to ensure external billing
transactions are recorded accurately and completely by
verifying financial reports to supporting documentation on a
routine and regular basis (at minimum monthly). Any errors
or omissions are reported immediately to the appropriate
individual/unit.
[Guide Ch 6, Transaction/Report Review & Verification]
Comments:
Comments:
Comments:
Retention and Filing of Source Documents
12. The unit maintains orderly and secure records of all external
billings for six years plus the current year.
[Guide Ch 6, Retention and Filing of Source Documents;
Source Documents]
Comments:
5. Payroll (15 controls)
Section Overview: Salaries, wages and benefits comprise approximately 80 per cent of the University’s annual
unrestricted (operating) expenses and 20 per cent of annual restricted fund expenses. A strong control
environment is required to minimize the risks of unauthorized, inaccurate or invalid payments and to ensure pay,
benefits and deductions are in compliance with University policies and procedures, collective agreements,
legislation and donor/sponsor terms and conditions.
This Checklist section is applicable to our unit.
This Checklist section is not applicable to our unit because the unit associated with this dept id does not
encompass any paid positions.
This Checklist section is not applicable to our unit because the Faculty/VP Office performs this function on
our behalf.
This Checklist section is not applicable to our unit because another unit performs the payroll function on our
behalf. [Please indicate deptID and name of unit that performs this function:
]
Guide references:
Chapter 6: General Financial Information\Signing Authority and Approvals
Chapter 11: Payroll
Is the control fully implemented?
Expected Key Controls
Yes
Familiarity with Policy and Procedure
1.
2.
Staff members who undertake payroll related
activities (e.g., payroll contacts, managers) have
read and are familiar with relevant components of
collective agreements and guidelines available
regarding payment of salaries and wages.
If applicable, the unit has documented its internal
activities and controls related to payroll.
Comments:
Comments:
Validity of Transactions
3.
4.
5.
6.
The unit ensures that the SIN card for all new
employees is requested at hire and the card is
presented for visual confirmation within 3 days of
the employee starting or the card being issued,
whichever is later.
Comments:
The unit has procedures in place to ensure that it
records the correct social insurance number, legal
name and birth date for all hires. This prevents
the creation of more than one record for each
employee.
Comments:
The unit ensures that Pay/Action forms (used for
employee hires, terminations and transfers)
include all required authorizing signatures, prior to
submitting the forms to Payroll Operations for
processing. Three authorizing signatures are
required for academic staff; two for support staff.
A casual employee’s supervisor, or authorized
designate who has specific knowledge regarding
the hours worked by the employee, is the person
who signs the employee’s time sheets.
Comments:
Comments:
No, but
will
implement
No, can’t
implement
Not
applicable
7.
8.
The unit directs all employees to sign-up for direct
deposit upon hire. Rehired employees are instructed
to review and update their direct deposit
information through Bear Tracks. This eliminates the
risk of misappropriated or lost cheques.
For employees who receive a paycheque, the unit
adopts the following controls: (1) it does not release
paycheques to anyone but the employee, unless the
unit receives written and signed authorization from
that employee; (2) it does not release paycheques
without the employee producing ID (if necessary)
and signing for the cheque; (3) it has appropriate
safeguards in place to physically protect the
paycheques until they are claimed or returned to
Payroll Operations; and (4) it returns unclaimed
paycheques to Payroll Operations within one month
of the cheque issue date.
Comments:
Comments:
Timeliness
9.
The unit has procedures in place to ensure that it
submits Pay/Action forms to Payroll Operations by
the deadlines stated in the Monthly and Semimonthly Schedules.
10. The unit has procedures in place to ensure that HR
Smart Forms are originated and approved by the
deadlines stated in the Monthly and Semi-monthly
Schedules.
11. The unit has procedures in place to ensure that
leave and time entry is completed within five days
of the end of each pay period or as stated in the
Monthly or Semi-monthly Schedules.
Comments:
Comments:
Comments:
Accuracy & Completeness of Financial Statements
12. A senior administrator checks the unit's monthly
salary reports to verify that: (1) the reports include
the correct employees (i.e., no unfamiliar names
and no missing names); (2) salaries are coded to
the correct chartfield string (COA); and (3) each
employee's regular and overtime pay (as applicable)
appear reasonable. Depending on the size of the
unit, this could require comparing the information in
the unit's HR Operational reports against
appropriate source documents. (Guide Ch 11,
Payroll Reporting)
Comments:
Retention and Filing of Source Documents
13. A designated staff member is responsible for
maintaining payroll documents (e.g., time sheets if
unit performs distributed time entry, payroll GL
distribution correction documents, etc.) for six years
plus the current year. These are filed as centrally
as possible.
14. The unit ensures that all documents containing
employee personal information are securely stored
in locked cabinets or secured locations to protect
the confidentiality and security of the information.
Segregation of Duties
Comments:
Comments:
15. The unit ensures that no one staff member handles
all aspects of the payroll process (originating pay
action or HR Smart Forms, approving the actions
and distributing the paycheques, if applicable).
Comments:
6. Procurement & Supplier Payments (17 controls)
Section Overview: The University spends nearly $500 million each year for goods and services. Without
adequate controls, units increase their risk of paying excessive amounts for goods and services, paying fictitious or
erroneous or duplicate invoices, and paying for goods/services not received.
Procurement systems include purchase orders, preferred supplier agreements, standing purchase orders, corporate
purchasing cards, the low dollar purchase system, expense reimbursement system and petty cash.
This Checklist section is applicable to our unit.
This Checklist section is not applicable to our unit because the Faculty/VP Office performs this function on our
behalf.
This Checklist section is not applicable to our unit because another unit performs this function on our behalf.
[Please indicate deptID and name of unit that performs this function:
]
UAPPOL:
Acquisition of Foreign Goods and Services Procedure (AFGSP)
Competitive Bid Procedure (CBP)
Competitive Bid Exception Procedure (CBEP)
Contracting for Project Management, Design, Maintenance and Trade Services
Contracting for Services with a Limited or Incorporated Company Procedure
Contracting for Services with Individuals and Small Businesses Procedure
Corporate Procurement Card System Procedure (CPSP)
Customs Import Procedure (CIP)
Customs Permit Procedure (CPP)
Emergency Purchases Procedure
Expense Reimbursement Procedure - Goods & Services
Payment Procedure (PP)
Low Dollar Purchase (LDP) System Procedure
Preferred Supplier Agreement Procedure
Purchase Order System Procedure (POSP)
Purchase of Restricted Items Procedure (PRIP)
Receiving and Distribution Procedure (RDP)
Standing Purchase Order System Procedure
Supply of Goods and Services Policy (SGSP)
Guide references:
Chapter 4: Chart of Accounts
Chapter 6: General Financial Information\Goods and Services Tax\GST/HST Processes\Purchases
Chapter 6: General Financial Information\Signing Authority and Approvals\Signing Authority & Approval
Procedure
Chapter 6: General Financial Information\Transaction/Report Review and Verification
Chapter 12: Procurement of Goods and Services\Expense Reimbursement Procedure – Goods and Services
Is the control fully implemented?
Expected Key Controls
Yes
Familiarity with Policy and Procedure
1.
Staff members involved in the purchasing
and/or supplier payments process have read
and comply with the related University policies
Comments:
No, but will
implement
No, can’t
implement
Not
applicable
and procedures.
2.
If applicable, the unit has documented its
internal activities and controls related to
purchasing and supplier payments.
Comments:
Validity of Transactions
3.
4.
5.
6.
7.
8.
9.
The unit monitors transactions to ensure that
they comply with the Supply of Goods and
Services Policy and related procedures.
[UAPPOL Ref: SGSP, CBP, CBEP]
Only authorized staff members or those with
properly delegated authority approve
expenditures in the unit. Approval is
demonstrated by signature and printed name
on the related invoice or other documentation
as applicable.
[Guide Ch 6, Signing Authority & Approval
Procedure]
Independent Review (research funds only)
ensures that: (1) claims for reimbursement
for purchases of goods and services comply
with the procedure limit of $1,000 per receipt;
(2) original receipts are attached to expense
claims; and (3) the correct chart field string
and GST code have been specified on expense
claims.
[Guide Ref: Ch 12, Expense Reimbursement –
Goods and Services Procedure]
The procurement card Site Coordinator verifies
billing statements and supporting
documentation monthly and ensures all
appropriate signatures are obtained.
[UAPPOL Ref: CPSP]
The unit issues purchase requisitions for
restricted purchases (e.g. ethyl alcohol,
radioisotopes), foreign goods requiring an
import permit, domestic expenditures over
$5,000 and foreign expenditures over $1,600
(Can funds) (Note: The exception is certain
preferred supplier agreement purchases).
[UAPPOL Ref: PRIP]
The unit directs vendors to ship goods to
Central Receiving for main campus deliveries.
Alternate arrangements have been approved
for other campuses. Any exceptions are
required to be documented and approved.
[UAPPOL Ref: RDP]
The unit ensures that invoices are reviewed for
accuracy and are matched to the good/service
received as well as to the related purchase
order, goods receipts, contract terms, etc.
prior to payment.
[UAPPOL Ref: PP]
10. The unit monitors purchases to ensure that
transactions are not split to circumvent the
requirement for purchase orders or
competitive bidding.
[UAPPOL Ref: POSP, CBP]
Comments:
Comments:
Comments:
Comments:
Comments:
Comments:
Comments:
Comments:
11. The unit does not permit contracted work to
begin until the Purchase Order/Contract is
formally in place.
[UAPPOL Ref: CBP]
12.
The unit has procedures in place to ensure
that staff members (as appropriate): (1)
understand Customs requirements &
legislation regarding goods ordered from out
of country; (2) retain appropriate
documentation (e.g., order documents and
packing slips) as proof that the order was
accurate and received in good order; and (3)
identify and report overpayments of GST to
SMS Customs.
[UAPPOL Refs: AFGSP, CIP, CPP;
Guide Ch 6, GST/HST Processes]
Comments:
Comments:
Timeliness
13.
The unit promptly approves and forwards
invoices to Payment Services for payment
within 5 days of receipt, and ensures goods
and services are processed to the fiscal year
in which they are received.
[UAPPOL Ref: PP]
Comments:
Accuracy and Completeness of Financial Statements
14.
15.
16.
The unit has procedures in place to ensure
purchases are recorded accurately and
completely by reviewing financial reports on a
routine and regular basis (at minimum
monthly). Any errors or omissions are
reported immediately to the appropriate
individual/unit.
[Guide Ch 6, Transaction/Report Review &
Verification]
Internal Control ensures that the chart field
string (COA) has been correctly assigned to
purchases and that capital expenditures are
coded according to the “Capital Expense
Account Use” decision tree.
[Guide Ch 4, Chart of Accounts\Coding &
Processing]
The unit has procedures in place to track and
follow up on credits owed for items it has
returned and for which suppliers have not
provided refunds.
Comments:
Comments:
Comments:
Segregation of Duties
17.
The unit ensures that no one staff member
handles all aspects of the purchasing process
(initiating orders, receiving goods and
verifying purchases).
Comments:
7. Travel Expense (7 controls)
Section Overview: Transactions charged to the University through travel expense claims must comply with the
same policy, procedure, legislation and donor/sponsor terms and conditions as other methods of purchasing.
This Checklist section is applicable to our unit.
This Checklist section is not applicable to our unit because we do not make travel expense claims.
This Checklist section is not applicable to our unit because the Faculty/VP Office processes claims on our
behalf.
This Checklist section is not applicable to our unit because another unit Office processes claims on our
behalf. [Please indicate deptID and name of unit that performs this function:
]
UAPPOL:
Acquisition of Foreign Goods and Services Procedure (AFGSP)
Customs Export Procedure (CEP)
Guide references:
Chapter 6: General Financial Information\Retention & Filing of Source Documents
Chapter 6: General Financial Information\Source Documents
Chapter 6: General Financial Information\Transaction/Report Review and Verification
Chapter 13: Travel\Travel Advance Procedure
Chapter 13: Travel\Travel Expense Procedure
Is the control fully implemented?
Expected Key Controls
Yes
Familiarity with Policy and Procedure
1.
Staff members involved in the travel expense claim
process have read and comply with the related
University policies and procedures.
2.
If applicable, the unit has documented its internal
activities and controls related to travel expenses.
3.
The unit has procedures in place to ensure that
employees travelling out-of-country with Universityowned assets declare these assets to Canada
Customs.
[UAPPOL Ref: CEP]
4.
The unit has procedures in place to ensure that
employees returning to Canada are aware of Canada
Customs requirements for the declaration of
commercial goods and services if acquired from a
source outside of Canada.
[UAPPOL Ref: AFGSP;
Guide Ch 13, Travel Expense Procedure]
Comments:
Comments:
Comments:
Comments:
No, but
will
implement
No, can’t
implement
Not
applicable
Validity of Transactions
5.
Independent Review (research funds only) ensures
that: (1) travel expense claims comply with
UAPPOL; (2) original receipts are attached to travel
and expense claims; (3) the correct chartfield string
(COA) and GST code have been specified on travel
expense claims; and (4), travel expense claims
comply with donor/sponsor terms and conditions.
[Guide Ch 13, Travel Expense Procedure]
Comments:
Accuracy and Completeness of Financial
Statements
6.
The unit has procedures in place to ensure travel
and expenses are recorded accurately and
completely by reviewing financial reports on a
routine and regular basis (at minimum monthly).
[Guide Ch 6, Transaction/Report Review &
Verification]
Retention and Filing of Source Documents
7.
The unit maintains orderly and secure records of all
travel expense claims and original supporting
documentation for six prior years plus the current
year.
[Guide Ch 6, Retention and Filing of Source
Documents; Source Documents]
Comments:
8. Equipment Assets (8 controls)
Section Overview: Equipment and furnishings assets include items acquired by the University such as scientific
lab, information technology (IT) and other equipment, vehicles and furnishings. Deans, Chairs, Directors and other
senior administrators are responsible for the care, custody and control of equipment and furnishings assets within
their respective areas.
Proper management of equipment assets minimizes risk of inappropriate use or loss, and ensures that data is
accurate and up-to-date for the purposes of insurance and financial reporting. Units are required to tag equipment
assets with an acquisition value of $5,000 or greater and those that are prone to loss or theft, to track these in an
equipment asset register, to perform annual procedures to verify their existence and location and to identify any
assets that are damaged or no longer in use. Units are also required to comply with UAPPOL asset disposal
procedures when disposing of assets that are no longer needed or being used.
Units are not required to tag and track furnishings, but are required to comply with UAPPOL disposal procedures
when disposing of same.
Equipment and furnishings assets do not include museum and collections assets.
This Checklist section is applicable to our unit.
This Checklist section is not applicable to our unit because we do have any equipment and furnishings assets
as defined in the section overview.
This Checklist section is not applicable to our unit because the Faculty/VP Office provides management of
equipment and furnishings assets on our behalf.
This Checklist section is not applicable to our unit because another deptID provides management of
equipment and furnishings assets on our behalf. [Please indicate deptID and name of unit that performs
this function:
]
Guide references:
Chapter 16: Equipment and Furnishings Assets/Equipment Asset Register Procedure
Chapter 16: Equipment and Furnishings Assets/Asset Disposal Procedure - Surplus
Chapter 16: Equipment and Furnishings Assets/Asset Disposal Procedure – Stolen or Lost
Chapter 16: Equipment and Furnishings Assets/Asset Disposal Procedure – Transfer or Sale (Internal) to
Another University Unit
Chapter 16: Equipment and Furnishings Assets/Asset Disposal Procedure – Transfer to Another
Institution
Chapter 16: Equipment and Furnishings Assets/Asset Disposal Procedure Asset Disposal Procedure Gift to Staff Member or Donation to Registered Charity
Is the control fully implemented?
Expected Key Controls
Yes
Familiarity with Policy & Procedure
1.
Staff members involved in equipment and
furnishings asset management have read and
comply with the related University policies and
procedures.
Comments:
No, but
will
implement
No, can’t
implement
Not
applicable
2.
The unit has documented its internal procedures for
the tagging and tracking of equipment assets,
including the rationale used in determining unitspecific tracking thresholds.
[Guide Ch 16, Equipment Asset Register Procedure]
Comments:
Validity of Transactions
3.
The unit complies with disposal procedures for all
equipment and furnishings assets, regardless of the
value of these assets.
[Guide Ch 16, Summary of Asset Disposal
Procedures]
Comments:
Timeliness
4.
5.
Equipment assets to be tracked are tagged as soon
as possible after receiving.
[Guide Ch 16, Equipment Asset Register Procedure]
The unit equipment coordinator updates the
equipment asset register: (1) for asset acquisitions,
within one month of the acquisition; and (2) for
asset disposals, upon receiving a copy of the
approved asset disposal form.
[Guide Ch 16, Equipment Asset Register Procedure;
Summary of Asset Disposal Procedures]
Comments:
Comments:
Accuracy and Completeness of Financial Statements
6.
7.
8.
The unit ensures SMS (Equipment Services) is
informed of assets that the unit has transferred to
another institution, given to a staff member or
donated to a registered charity, or has identified as
lost or stolen, by forwarding to SMS a copy of the
applicable asset disposal form.
[Guide Ch 16, Summary of Asset Disposal
Procedures]
The unit confirms the existence, location and
condition of assets recorded in its equipment asset
register by conducting an annual physical count.
The unit follows UAPPOL procedures regarding any
equipment asset that is identified during the count
as missing, damaged beyond repair, destroyed, lost
or no longer in use.
[Guide Ch 16, Equipment Asset Register Procedure]
The unit ensures that all University property on loan
to a staff member (e.g., keys, computers, cameras,
cell phones, professional expense reimbursement
items, etc.) is returned to the unit prior to the staff
member’s termination date or before transferring to
another department.
Comments:
Comments:
Comments: