Internal controls are methods and policies designed to prevent fraud, minimize errors, promote operating efficiency and achieve compliance with established policies. Internal controls also help to detect fraud, errors and inefficiencies.

Examples of internal controls include

• written policies and procedures,
• cost center reconciliations,
• locking offices to prevent unauthorized access, and
• ensuring that one person does not have complete responsibility for a financial transaction.

Call Internal Audits if

• your area is undergoing a reorganization, restructuring or implementing a new system;
• you need advice on cash handling, account reconciliations or procedural issues;
• you suspect a theft or other types of fraud, waste or abuse (refer to question 4);
• you want an objective review of your operation and internal controls; or
• you are developing new systems and/or procedures and need advice on the proper controls required to manage your area, or you want to know if the resources in your department are properly protected. 

Audits are initiated by Internal Audits with input from the university president and senior management of the university. Audit results are reported to the auditee, the Management Audit and Compliance Committee, the university president and the Compliance, Audit and Risk Committee of the Board of Trustees. Consultations can be requested by any university administrator. The results are reported only to the administrator requesting the consultation. View our Types of Audits and Services section for more information. 

Yes, contact Dale Venturini, associate vice president and chief audit officer, at [click-for-email] or call 215-926-2081. You may also reach out by using the Ethics and Compliance Helpline that provides the option of remaining anonymous.   

When applicable, a follow-up audit is performed approximately one to five months after completion of the audit. The purpose of the follow-up is to review the implementation of developed solutions or corrective actions that were agreed upon during the audit.

The status of implementation of developed solutions or corrective actions will be reported to the MACC, the president, and the Compliance, Audit and Risk Committee of the Board of Trustees.

If any of the developed solutions or corrective actions have not been implemented, the respective vice president/provost and department head are notified and future follow-up is scheduled. On an annual basis, areas with outstanding audit comments where solutions have not been fully implemented are reported to the MACC; the president; and the Compliance, Audit and Risk Committee of the Board of Trustees.  

Yes, Internal Audits will do educational presentations. We design the content and duration of these presentations in collaboration with the requestor.  

Management is responsible to establish and follow internal controls to ensure compliance with university and regulatory policies, prevent and detect fraud, and provide accurate and reliable information.