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Bank Financial Audit Teams Need Financial And Security Files From All 58 Community Colleges Essay

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1 Purpose and Overview
Each year, OSA Financial Audit teams need financial and security files from all 58 Community Colleges (CC). Since the data files may be used in any engagement types (e.g. financial statement audits, federal compliance audits, information systems audits, performance audits, and investigations), files are requested regardless of whether or not OSA will be performing a financial statement audit for the current year.
OSA Information Systems Audit (ISA) auditors request submission of files from the Community College Systems Office, obtain a list of the community colleges that will be audited for the current fiscal year from the Financial Audit Team Manager, process files once received and provide the output of ACL scipts to the Fianancial teams via Audit Exchange (AX).
2 Request for Submission of Files from CC Systems Office
Three items must be sent to the Community College Systems Office in April: a letter, FTP instructions for sending the files, and User IDs for the Community Colleges. The Community College Systems Office distributes the request for data files and related information to all CIOs and CFOs of the community colleges.
The year-end accrual financial audit files are to be transmitted as soon as the school closes the accrual period in August with a Community College submisstion deadline of September 30 fo the current fiscal year. The security files are to have an effective date of May or June of the fiscal year being processed and in

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