Inadequate Policies and Procedures
The issue - Departments or academic units often fail to document and or maintain current policies and procedures. This may lead to inconsistencies, compliance violations, and lack of accountability.
Proper Procedure - All aspects of a department or academic unit's operations should be clearly documented in a procedures manual. The procedures should be updated regularly, include sufficient information to permit an employee who is unfamiliar with the operations to perform he/she/their duty, and made available to all employees.
Lack of Training
The issue - Limited time and competing priorities often lead employees to prioritize other tasks. As result, required training is either not completed timely or not completed at all.
Proper Procedure - Supervisors should ensure that their direct reports complete the appropriate training to carry out their job duties.
Missing or Insufficient Supporting Documentation
The issue - Documentation related to the adequate review and approval of transactions or the completion of monthly reconciliations is often missing.
Proper Procedure - All transactions should be supported by adequate documentation. The documentation should include proper authorization and enough detail to provide a trail for future reviews.