Laserfiche WebLink
<br /> <br />SUSANFE~GTON <br />ASSISTANT FINANCE DIRECTOR <br /> <br />MEMORANDUM <br /> <br />To: <br /> <br />Board of Commissioners <br /> <br />Susan B. Fearrington~ <br /> <br />Fror-: <br /> <br />Date: <br /> <br />May 31, 2005 <br /> <br />Subject: <br /> <br />Internal Auditing and Control Policy <br /> <br />At the January 10,2005 Board of Commissioner's meeting, an Accountant position was <br />added to the Finance Department staff. Effective May 31, 2005, this position is <br />considered full-time. With the addition of this staff member, duties of the Finance <br />Department will be reallocated and time will be allocated for the evaluation of Internal <br />Control procedures. <br /> <br />Per the Government Finance Officers Associations publication Evaluating Internal <br />Controls. "Internal controls are techniques used by management to achieve its objectives <br />and to meet its responsibilities. The governing board is ultimately responsible for <br />ensuring that management fulfills this duty. A comprehensive framework of internal <br />controls should 1) create and maintain an environment conducive to control, 2) ensure <br />that risks from both inside and outside the entity are assessed and managed on an ongoing <br />basis, 3) result in the design and implementation of appropriate control-related policies <br />and procedures, 4) provide for the appropriate communication of information both inside <br />and outside the entity, and 5) monitor the effectiveness of control-related policies and <br />procedures as well as the resolution of potential problems identified by controls." <br /> <br />Internal controls are necessary in today's times. Cabarrus County realizes that we are not <br />exempt from misuse of public funds and fraud. The enclosed policy is not foolproof; <br />however, it will serve Cabarrus County as an evaluation tool to safeguard assets and other <br />resources. <br /> <br />With the approval of the enclosed Internal Auditing and Control Policy, the Finance staff <br />plan to perform financial and internal control compliance audits of every department <br />within Cabarrus County every two years. <br /> <br />r=-13 <br /> <br />~~ <br />~ <br />"_ CAROUIIA <br /> <br />Cabarrus County Finance Department <br />65 Church Street SE ; PO Box 707, Concord, NC 28026-0707 <br />Phone: 704-920-2894 Fax: 704-920-2881 . www.cabarruscounty.us <br />