Internal Control and Enterprise Risk Management/Fraud Reporting
On June 15, 2015, the SUNY Board of Trustees adopted an Enterprise Risk Management Program that is a formal and continuous process designed to identify, assess and manage risks and opportunities. The intent of the ERM is to leverage current risk management efforts in internal control, compliance and internal audit programs to maximize the potential and effectiveness of these activities.
Internal controls are already part of our daily operations. The controls developed and exercised by managers and their staff are the substance of the Internal Control and Enterprise Risk Management Program. SUNY Optometry’s Internal Control and Enterprise Risk Management Program helps to ensure that the controls are properly documented and that they are functioning as intended.
The goal is not to make each person an expert in internal controls, but to increase our awareness and understanding of internal controls. In fact, the single most important success factor of the Internal Control and Enterprise Risk Management Program is a high level of individual awareness and understanding. Internal controls are everyone’s responsibility, therefore, it is critical that each person be able to identify the internal controls that exist in their unit. We are all responsible to know what internal controls exist and how to evaluate their effectiveness.
A successful Internal Control and Enterprise Risk Management Program will help streamline our processes and improve the level and quality of our services. The result of SUNY Optometry’s Internal Control and Enterprise Risk Management Program will be a better, more enjoyable workplace and a quality institution of higher education.
For more information on internal controls or the status of SUNY Optometry’s Internal Control and Enterprise Risk Management Program, please contact SUNY Optometry’s Internal Control Officer.
Adapted from the following documents: Understanding Internal Controls Within STATE UNIVERSITY OF NEW YORK Internal Controls Handbook; SUNY Cortland Internal Control and Enterprise Risk Management Program.