What is Internal Control?

Internal control is an integrated system of organizational policies, procedures, and activities put into place to:

  • Keep the unit on course to achieve the unit's and the university's mission.
  • Promote efficiency, reduce risk of asset loss, and help ensure the reliability of financial data.
  • Promote compliance with laws and regulations.

Simply put, internal controls are good business practices. They are basically just using common sense as you carry out your job responsibilities. Internal control is anything that you do to safeguard the university's assets or make more efficient or effective use of these assets. Individual internal controls include:

  • Approving transactions
  • Authorizing transactions
  • Verifying transaction validity and accuracy
  • Use of passwords
  • Reconciling statements
  • Segregating duties
  • Reviewing operating performance
  • Securing assets
  • Monitoring accounts
  • Analyzing
  • Comparing
  • Reporting
  • Observing
  • Communicating

Contact Info

P.O. Box 4115

Flagstaff, AZ 86011

928-523-6438

928-523-6630 fax

University Services Building (Building 90)

1296 S Knoles Dr

 

 

2007 Arizona Board of Regents, Northern Arizona University
South San Francisco Street, Flagstaff, Arizona 86011