Division of Financial Services
University Controller
The Internal Control Framework fosters effective and efficient financial operations and reliable financial reporting while also enabling compliance with applicable regulations. The Board of Trustees, the State University of New York, and federal Uniform Guidance all require that the university adopt an internal control framework and maintain an adequate system of internal controls. This internal control guidance is grounded in the principles of the COSO Framework. All operating units of the university are required to implement internal control plans with support from the Office of the University Controller, per University Policy 3.26, Financial Internal Controls.
Internal controls are processes and practices designed to provide reasonable assurance of reliable financial reporting, the effectiveness and efficiency of operations, and compliance with laws, regulations, and policies.
Internal control plans comprise process narratives and workflow diagrams, a materiality and risk assessment, and a management response plan, all developed using a standard set of templates.
