Financial Services Manual (FIN)

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Effective: 11/1/2006

Revised:     

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FIN 129: Ensuring Financial Integrity

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Purpose

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To promote the overall accuracy and ensure the integrity of university financial information

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Sources

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Arizona Department of Administration, General Accounting Office
University policy

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Background

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It is the responsibility of every university employee to help ensure that financial information in ASU’s records, and as reported to the public, is reasonably accurate and complete. In trying to strengthen financial controls in its reporting process, the Arizona Board of Regents and the university have adopted some of the best practices contained within the federal Sarbanes-Oxley Act of 2002, which currently applies only to publicly traded companies. This proactive approach to preserving financial integrity will help assure management, taxpayers, and grant providers that university funds are being utilized and reported appropriately.

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Policy

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All university employees are obligated to perform their duties in compliance with all applicable laws and university policies and procedures. The university has developed and implemented internal controls and procedures that are intended to detect, deter, and prevent erroneous financial reporting and improper conduct. Violation of these policies and procedures could subject the violator to disciplinary and/or legal action per applicable university policies and state statutes. With respect to financial matters, the university adheres to the Code of Conduct for State of Arizona Employees Engaged in Accounting, Financial and Budgeting Activities (“Code”). This Code was issued by the State of Arizona (Arizona Department of Administration, General Accounting Office) on April 3, 2000 (see  http://www.gao.az.gov/publications/tb/bulletins/tb003.pdf).

The university has a toll-free ASU Hotline for Ethics and Compliance that is operated by an outside vendor. Reports of suspected financial transgressions can be submitted to the hotline (anonymously, if desired) by calling 1–877–SUN–DEVL (1–877–786–3385). For more information, see the ASU Hotline for Ethics and Compliance Web site.

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