The Office of the President invites comments on a proposed Presidential Policy on the Principles of Accountability with Respect to Financial Transactions. The Policy is a codification of an existing UCOP financial policy that is currently posted on the Office of the Chief Financial Officer website. The key issues are:

  • Existing finance policy was rewritten to follow the 2013 Committee on Sponsoring Organizations of the Treadway Commission (“COSO”) Integrated Control-Integrated Framework.
  • Policy provides an overview of financial accountability, financial management, data integrity, and compliance associated with financial transactions throughout the University. Campuses in turn should develop policies and procedures to ensure these financial transaction accountability principles are met.
  • There is a chart of functions and responsibilities for key areas and roles within the campus.
  • There are financial principles that all employees with financial transaction authority delegated to them should adhere.

The proposed revisions to the policy can be found here: Principles of Accountability Redline Version

The clean version of the policy can be found here: Principles of Accountability Clean Version

Employees covered by this policy who wish to provide comments on the proposed revisions may submit them to Ruth Satorre at [email protected] no later than November 20, 2018.