The University Policy Office announces the issuance of University Policy 3.26, Financial Internal Controls. This policy is sponsored by Executive Vice President and CFO Joanne DeStefano, and administered through the Office of the University Controller.
Through this new policy, the university is implementing a financial internal control framework that allows operating units to be effective stewards of Cornell’s assets. The framework and associated procedures enable efficient, reliable financial reporting, and increased compliance with applicable policies, laws, and regulations. This policy satisfies the requirements in the university’s bylaws to establish and maintain an adequate financial internal controls system.
This policy requires that each operating unit develop and implement financial internal control plans specific to that unit, and this policy applies to anyone who initiates, reviews, approves, process, records, monitors, reconciles, or is otherwise accountable for financial activity on behalf of the university.
Direct questions about this policy to your college or unit administrative office, or to Office of the University Controller, at firstname.lastname@example.org.