All organizations should have systems of internal control. Universities are no exception. This site discusses the basics of internal control in a university setting.

Address: http://www.bc.edu/bc_org/fvp/ia/ic/intro.html (or go to www.wiley.com/college/

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Steps: Go to the site shown above.

Instructions The opening page of this site provides links to pages that answer six critical questions.

Use these links to answer the following questions:

(a) In a university setting who has responsibility for evaluating the adequacy of the system of internal control?

(b) What do reconciliations ensure in the university setting? Who should review the reconciliation?

(c) What are some examples of physical controls?

(d) What are two ways to accomplish inventory counts?