June 30, 2015
Finding 2015-001, continued:
Management response:
Management concurs. The University will review and revise the structure and procedures related to general ledger accounts. Procedures requiring monthly reconciliation of all general ledger accounts will be implemented. Reconciliations for each month will be reviewed by department management as part of the financial statement development process. The University's internal auditor will test compliance at least twice during each fiscal year.