Audit Tip: Do you know what the number one audit recommendation for 2007 was?

Account Reconciliations! Here’s how you can make sure this one does not end up on your next audit report!

Reconcile your departmental accounts in a timely manner. WHY? Because the opportunity for errors or fraud occurring and not being detected is increased when accounts are not reconciled, especially in a timely manner! UT Dallas guidelines require reconciling your departmental accounts in a timely manner, generally within two months after receiving your reports.

Attention Reconcilers and Reviewers: Don’t forget to sign and date the reconciliation and make sure you attach and review the back-up documentation. If the person who normally reconciles or reviews is out for an extended period or the position is vacant, the reconciliation and review still needs to be performed! If you need help with account reconciliations, please contact the Office of Finance at extension 2682 or Internal Audit at 2693.

Compliance Reminder: We appreciate your patience as we transition Compliance Training to WebCT. Annual Compliance Training for all benefits-eligible staff and faculty members is due April 30! Additional information on Compliance Training can be obtained at www.utdallas.edu/audit-compliance/training.htm .

Please feel free to contact the Compliance Office at 2233 or by email at compliance@utdallas.edu if you have any questions or concerns.