Internal Control Standards

This Manager's Guide  (170k) defines the standards for internal control and provides a general framework for developing and evaluating internal control systems based on the COSO model.

Best Practices Series

Practical guidance, issued in support of the Internal Control Standards guide, to help departments improve fiscal management, accountability, and safeguarding of the State’s assets.

• Best Practices Overview  (10k)

• Best Practices #1: Cash Receipts  (50k)

  • Best Practices: Bank Account Reconciliations  (State Treasurer's Office website)

• Best Practices #2: Petty Cash  (50k)

• Best Practices #3: Accounts Payable  (50k)

• Best Practices #4: Accounts Receivable   (50k)

• Best Practices #5: Ledger Review  (50k)

• Best Practices #6: Fixed Assets  (50k)

• Best Practices #7: Purchasing  (50k)

• Best Practices #8: Employee Separation  (50K)

• Best Practices #9: Payroll  (50k)  - updated November 2010

Presentations

• Internal Controls 101 (200k)

• Process & Procedure Documentation Overview  (200k)

Self-Assessment of Internal Control

Annually, the Dept of Finance & Management administers a self-assessment of internal control questionnaire to all departments in state government. Self-assessment aims to raise awareness of internal controls & best business practices and be a catalyst for improving the State’s internal control system. The questionnaire provides departments with a tool to review and document current internal control practices, while helping management identify potential areas of risk or non-compliance within their operations.

FY 2013 Self-Assessment of Internal Control  (927k)

For more Internal Control information refer to:

• Internal Control News (quarterly newsletter)
• Frequently Asked Questions