COMMON AUDIT ISSUES
Receipts Handling Survey (1/03 Update)
As part of our on-going review of departmental receipts handling, we conducted this year's survey on-line. This on-line approach has already reduced the time required for all involved, and has aided us in evaluating basic internal controls of departments handling receipts.
In the past, we've conducted this campus wide review using a multi-page survey, which was a time-consuming project for all. This year we have reduced the survey to 17 basic questions, and will use your responses in assessing current practices and any necessary follow-up.
Below are some key results:
- Over 350 departments have responded
- 80% handle cash and/or checks
- 72% of receipts handled are from Departmental Activities or Gifts/Donations
- 61% endorse checks upon receipt
- 100% safeguard cash/checks in secure locations
- Only 64% have proper separation of duties, which may require further follow-up
To assess how well your departmental cash handling measures up, try out our Receipts Handling Self-Assessment.
Thanks again to all for participating in our first ever on-line survey.
Business Services News - December 2002