Recommended ingrained Controls over Financial Reporting: At the University of British Columbia (UBC) Introduction This paper not only addresses the risks fixed up at UBC based on the traditional internal controls mandatory for both organization, but includes the internal controls required to behave UBCs set and evolving business moulding. This analysis was conducted using the framework provided by the Internal Control over Financial Reporting- Guidance for small popular Companies created by Committee of Sponsoring Organizations (COSO). UBC VALUES People erudition Research Community Internationalization As a not-for-profit organization, the farm of Governors has a high level of accountability to stakeholders. Orientation and teaching programs for the Board of Governors argon necessary to ensure their ability to target and value risk. To equip the changing market place and compete in the current economic environment UBC is adjusting its business model to resign international / aboriginal and national online learning. An increase on dependability on Information Technologies (IT) services and support is required. invariable with new(prenominal) industries fraud particularly, in the form of cash, represents the most significant risk.
natter for internal controls include: segregation of duties in regard to skylark roles; documentation in the form of sequential numbered cheques and authorization processes much(prenominal) as co-signatures on cheques. Technology Due to the evolving technological society, UBC has apply various(a) means of servic e delivery to cater to the needs of the 50,0! 00 several(a) UBC students internationally. interactional teaching devices, course packs delivered through the web and online cohort studies are a few of the technologies used at UBC. To meet the ripening demand, UBC must ensure there is a true set of controls in place to meet their vision and support the on line community. Risks to UBCs IT must be rationalize because the financial...If you want to get a full essay, order it on our website: OrderCustomPaper.com
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