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Audit - The California State University

By Micheal Hayes,2014-06-17 07:23
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Audit - The California State University ...

    THE CALIFORNIA STATE UNIVERSITY

    OFFICE OF THE UNIVERSITY AUDITOR

    DEVELOPMENT AUDIT

    INTERNAL CONTROL QUESTIONNAIRE (ICQ) AND REQUEST FOR DOCUMENTS CSUXX??

     Subject: Development

    Campus:

    Audit #:02-

    Campus Preparer: Date:

    Campus Reviewer: Date:

    Rec’d Document Request Internal Control Question Internal Control Response (Audit

    Use

    Only)

    Q1. Have University Advancement and the D1. Copy of University Foundation developed and documented Advancement & Auxiliary gift Gift processing and accounting processing and accounting procedures? policies and procedures.

    Q2. Name and briefly describe the three most D2. Copy of the plans for the three financially significant on-going most significant on-going fund-fundraising campaigns. raising campaigns.

    Q3. Which departments or colleges receive D3. Detail report of cash donations donations (cash & checks)? received during the last 6

     months. Include enough info in

     report to tie transactions to a

    specific deposit; e.g., name of

    donor; account i.d.; college

    benefited; amount; deposit date.

    Report Sequence: College by

    date received; sub-total on

    college; grand total of all

    donations. Source: Donor

    System.

06/17/10

    1

    THE CALIFORNIA STATE UNIVERSITY

    OFFICE OF THE UNIVERSITY AUDITOR

    DEVELOPMENT AUDIT

    INTERNAL CONTROL QUESTIONNAIRE (ICQ) AND REQUEST FOR DOCUMENTS CSUXX??

    Rec’d Document Request Internal Control Question Internal Control Response (Audit

    Use

    Only)

    Q4. What internal controls are in places that D3. provide reasonable assurance that

    charitable donations (i.e., checks & cash)

    are not lost or stolen?

    Q5. Which departments are responsible for D3. processing cash receipts (i.e., donations)?

Which departments are responsible for

    providing donation accounting and

    financial reporting services?

    Q6. Which departments are responsible for: D3. a) posting donations to the accounting

    system b) depositing donations c)

    reconciling cash receipts and

    disbursements to the bank accounts?

Does any one person perform processes a

    thru c? If so, please identify the

    employee and her/his title.

    Q7. Are checks restrictively endorsed? Is so, D3. at what point in the process are checks

    restrictively endorsed?

    Q8. What steps are taken upon receipt of a D3. charitable contribution made payable to

    the campus?

06/17/10

    2

    THE CALIFORNIA STATE UNIVERSITY

    OFFICE OF THE UNIVERSITY AUDITOR

    DEVELOPMENT AUDIT

    CSUXX?? INTERNAL CONTROL QUESTIONNAIRE (ICQ) AND REQUEST FOR DOCUMENTS

    Rec’d Document Request Internal Control Question Internal Control Response (Audit

    Use

    Only)

    Q9. How often are cash donations deposited? D3.

Where do colleges, departments, and

    auxiliaries maintain checks and cash

    donations in the event the donations must

    be maintained overnight in the area?

    Q10. Does a periodic reconciliation take place D4. Copy of documented donor between the computerized donor system system / general ledger records and the accounting system reconciliation and report for the records? most recent prior 3 months.

If so, how frequently does the

    reconciliation take place and who is

    responsible for completing and

    reviewing/approving the reconciliation

    results?

    Q11. Are donor system to G/L reconciliation D4. Copy of donor system to G/L policies and procedures documented? reconciliation policies and

     procedures Are all gift types (i.e., cash, marketable

    securities, G-I-K) reconciled?

    Q12. Is a documented reconciliation report D4. generated at the completion of the donor

    system to G/L reconciliation?

If so, who receives a copy of the report

    and what use is made of it?

    06/17/10

    3

    THE CALIFORNIA STATE UNIVERSITY

    OFFICE OF THE UNIVERSITY AUDITOR

    DEVELOPMENT AUDIT

    CSUXX?? INTERNAL CONTROL QUESTIONNAIRE (ICQ) AND REQUEST FOR DOCUMENTS

    Rec’d Document Request Internal Control Question Internal Control Response (Audit

    Use

    Only)

    Q13. If a donor system / general ledger D4. reconciliation process is not in place,

    what assurances are made by University

    Advancement and/or Auxiliary

    management that the donor system record

    count and amount match the accounting

    system count and amount?

    Q14. How are donors notified of any service D5. Copy of service / admin charge and/or admin charges deducted from their policy and example of donation? notification to donors.

    Q15. How much is the service or admin D5. charge?

    Q16. Are the service/admin charges limited to D5. certain types of donations?

If so, specify.

    Q17. Are all fund-raising events under the D6. List of all fund-raising events management and control of University (e.g., golf tournaments; Advancement? banquets; concerts; etc.) held

     during the last year. The list If not, what other departments and/or should include name of college colleges manage fund-raising events? benefited; account identification;

    and responsible Director of

    Development.

    Report Sequence: College or

    department; account

    identification; fund-raising event

    date. 06/17/10

    4

    THE CALIFORNIA STATE UNIVERSITY

    OFFICE OF THE UNIVERSITY AUDITOR

    DEVELOPMENT AUDIT

    CSUXX?? INTERNAL CONTROL QUESTIONNAIRE (ICQ) AND REQUEST FOR DOCUMENTS

    Rec’d Document Request Internal Control Question Internal Control Response (Audit

    Use

    Only)

    Q18. Are fund-raising event brochures D7. Copy of fund-raising reviewed before being distributed to brochure/event advertisement potential donors? (see D6 above)

If so, by whom?

    Q19. Who is responsible for valuing D8. Report of marketable securities marketable securities received as received as gifts during the prior charitable contributions and how does 12 months. Report should University Advancement management include donor name; account assure itself that securities are valued identification; valuation amount; properly? date received, securities name &

    symbol.

    Report Sequence: Account

    identification by donor name.

    Source: Donor System

    Q20. Are marketable securities processing, D8. Copy of marketable securities, accounting and valuation procedures processing, accounting and documented? valuation procedures.

    Q21. What basis or procedure is used to value D9. Report of all G-I-K (valued at gifts-in-kind (i.e., non-cash gifts)? $250 or more) received during

     the last 12 months in gift type

     (e.g., real estate; software; art; Are G-I-K valuation procedures cars; live stock; books; etc.) documented? sequence.

    Source: Donor System

    Copy of G-I-K acceptance,

    processing and valuation

    procedures. 06/17/10

    5

    THE CALIFORNIA STATE UNIVERSITY

    OFFICE OF THE UNIVERSITY AUDITOR

    DEVELOPMENT AUDIT

    CSUXX?? INTERNAL CONTROL QUESTIONNAIRE (ICQ) AND REQUEST FOR DOCUMENTS

    Rec’d Document Request Internal Control Question Internal Control Response (Audit

    Use

    Only)

    Q22. Has the campus received real estate as D9. gifts during the last 12 months?

    Q23. Are hazardous material / waste issues D9. reviewed prior to accepting residential

    and/or commercial real estate as a gift?

If so, who is responsible for assuring

    environmental concerns are addressed

    before accepting a gift of real estate?

    Q24. Are all pledges supported by a signed D10. Report of all pledges greater donor commitment? than $500 made during the last 6

     months. Report should include If not, under what circumstance would the college, pledge commitment donor who has made a pledge not date; pledge amounts and complete a pledge card or statement? payment dates.

    Report Sequence: College

    Source: Donor System

    Q25. Who is responsible for following-up D11. Report of all existing pledges 60, pledges? 90, 120+ days overdue. Report

     should include donor name; Who has the authority to write-off college; scheduled pledge date; pledges? amount

    Is the pledge solicitation and Report Format: 60 Day; 90 administration process documented? Days; 120+ Days (sub-totals &

     grand total)

    Source: Donor System

06/17/10

    6

    THE CALIFORNIA STATE UNIVERSITY

    OFFICE OF THE UNIVERSITY AUDITOR

    DEVELOPMENT AUDIT

    CSUXX?? INTERNAL CONTROL QUESTIONNAIRE (ICQ) AND REQUEST FOR DOCUMENTS

    Rec’d Document Request Internal Control Question Internal Control Response (Audit

    Use

    Only)

    Q26. How are pledges valued and reported in D11. Copy of pledge solicitation and the annual financial statements? administrative/control policies &

    procedures.

    Q27. Does the campus use donation suspense, D12. Detailed report of all items in holding or pending accounts? donation suspense, holding, or

     pending accounts. Report If so, what are the typical or usual reasons should include date posted; for posting a donation to a suspense, amount suspended; account holding, or pending account? identification; donor name and

    description.

    Report Sequence: Date order

    by balance; include suspense

    account total balance.

    Source: General Ledger

    Q28. Who is responsible for monitoring D12. Copy of donation suspense donation suspense/holding/pending account administration and accounts? control policies and procedures.

What is the standard for clearing suspense

    accounts (e.g., all suspense items cleared

    within “x” days)?

    06/17/10

    7

    THE CALIFORNIA STATE UNIVERSITY

    OFFICE OF THE UNIVERSITY AUDITOR

    DEVELOPMENT AUDIT

    CSUXX?? INTERNAL CONTROL QUESTIONNAIRE (ICQ) AND REQUEST FOR DOCUMENTS

    Rec’d Document Request Internal Control Question Internal Control Response (Audit

    Use

    Only)

    Q29. What organizations on campus are D13. Unrestricted Disbursement responsible for: a) posting disbursements Report. Detailed transaction list funded by donations b) preparing manual of all unrestricted disbursements check requests or initiating computer funded by donations generated generated check processing c) over the last 6 months. Report reconciling bank donation bank accounts should include

     department/college name; payee Does any one person perform processes name; amount; date & a) c)? description of transaction.

    Report Sequence: payee name;

    account; date;

    department/college; amount.

    Source: Donation system

    Q30. Is a Trust Fund Account Application D14. Endowment Disbursement prepared for each donation fund account? Report. Detailed transaction list

     of all disbursements funded by If not, why not? endowments generated over the

    last 6 months. Report should

    include department/college

    name; payee name; amount; date

    & description of transaction.

    Report Sequence: Payee name;

    account; date;

    department/college; payee name;

    amount.

    Source: Donation system

06/17/10

    8

    THE CALIFORNIA STATE UNIVERSITY

    OFFICE OF THE UNIVERSITY AUDITOR

    DEVELOPMENT AUDIT

    CSUXX?? INTERNAL CONTROL QUESTIONNAIRE (ICQ) AND REQUEST FOR DOCUMENTS

    Rec’d Document Request Internal Control Question Internal Control Response (Audit

    Use

    Only)

    Q31. Does the campus organization responsible D15. Travel and Entertainment Report for processing check requests ensure that (T&E) - Detailed transaction list disbursements funded by donations are: of all T&E disbursements a) adequately supported b) properly funded by donations generated authorized c) aligned with donor’s over the last year. Report should attention? include department/college

    name; payee name; amount; date

    & description of transaction.

    Report Sequence: Payee name;

    account; date;

    department/college; amount.

    Source: General Ledger or

    Donation system

    Q32. Under what circumstances and how often D15. are Trust Fund Account Applications

    updated?

    Q33. What are the typical reasons to transfer a D16. Report of transfer to and from donated amount from one fund to donation accounts processed another? over the last 6 months. Report

    should include account

    transferred from/account

    transferred to; amount

    transferred; date of transfer.

    Report Sequence: transfer

    from; transfer to; amount; date

    of transfer.

    Source: General Ledger 06/17/10

    9

    THE CALIFORNIA STATE UNIVERSITY

    OFFICE OF THE UNIVERSITY AUDITOR

    DEVELOPMENT AUDIT

    CSUXX?? INTERNAL CONTROL QUESTIONNAIRE (ICQ) AND REQUEST FOR DOCUMENTS

    Rec’d Document Request Internal Control Question Internal Control Response (Audit

    Use

    Only)

    Q34. What authority is necessary to initiate an D16.

    inter-fund transfer?

    Q35. What documented support must be D16.

    presented to accounting and maintained to

    support an inter-fund transfer of

    donations?

    Q36. Are inter-fund transfer reports prepared? D16.

    If so, who receives copies of the report

    and what use is made of it?

    Q37. Would there ever be an occasion to D16.

    transfer donated funds to a non-donation

    fund account?

    If so, what would be the typical reasons?

    Q38. What specific control steps are completed D17. Copy of 2000/2001 Voluntary

    by the VP, University Advancement and Support of Education Survey &

    the Chief Business Officer prior to Special Revenue Report.

    signing-off on the accuracy and

    completeness of the Voluntary Support of Copy of the 2000/2001 Annual

    Education Survey and the Special Report on External Support.

    Revenue Report?

    06/17/10

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