Fundamental Definitions 

  • Assessable Unit: Assessable units are not usually the functional sub-units found on an organization chart, but are segments of them. An assessable unit should be large enough to allow managers to evaluate a significant portion of the activity being examined, but not so large that managers cannot perform a meaningful evaluation without extensive time and effort.

  • Internal Control: Internal control is the integration of the activities, plans, attitudes, policies, and efforts of the people of an organization working together to provide reasonable assurance that the organization will achieve its objectives and mission.

  • Internal Control Committee: A committee that is composed of individuals from a cross section of campus departments and offices to provide a central and consistent authoritative body for the review and approval of the College’s internal controls.

  • Internal Control Coordinator: An individual who assists the Internal Control Officer with the administration of the Internal Control Program.

  • Internal Control Officer: An individual with sufficient authority to act on behalf of the campus President to ensure implementation and review of the campus Internal Control Program.

  • Internal Control Review: A detailed examination of specific activities to evaluate the adequacy of internal controls and to identify internal control weaknesses and the actions needed to correct these weaknesses. It involves analyzing those vulnerable activities identified through a vulnerability assessment process, which expose the organization to some degree of risk to determine if the policy directives and procedures associated with the activity are functioning as intended. An internal control review may include narratives, questionnaires, and flowcharts to document the risks and control activities.

  • Internal Control System: Internal controls with a common purpose are grouped together and referred to as internal control systems. Basically, internal control systems are the laws, policies, and procedures that affect the daily operations and management of SUNY Geneseo, such as the College handbook.

  • Vulnerability Assessment: The methodology followed by management to determine the relative susceptibility of programs, functions, or organizational entities to conscious or unintended abuse, or misuse through misappropriation of assets, accounting or reporting errors, or reduced operational efficiency. Risk analysis is another term for this type of activity.

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