Internal Control Program

Developed in accordance with the COSO (Committee of Sponsoring Organizations) Framework, The New York State Governmental Accountability, Audit, and Internal Control Act of 1987, and the SUNY Internal Control Program Policies, our Program fulfills its requirements to: 

• Establish and maintain guidelines for a system of Internal Controls  
• Establish and maintain a system for continuous review of the Internal Control systems  
• Make clear and concise statements of management policies and standards available to all employees
• Implement education and training efforts to ensure awareness and understanding of Internal Control standards and the evaluation process. 

 

What are Internal Controls? 

Internal Controls are a process, impacted by all individuals that operate on behalf of an entity, designed to provide reasonable assurance to all stakeholders regarding the achievement of objectives relating to an organization’s operations, reporting, and compliance.  Controls exist to promote operational efficiency, safeguard assets, protect information, provide reliable financial information, and comply with applicable laws and regulations.

• Process:  Consists of ongoing tasks and activities, the “why” behind certain procedures within departments.  
• Impacted by People:  All individuals affect the Internal Controls of an organization. All processes that pose a risk to an organization should have control processes built into the normal procedures of performing the task (separation of duties, proper supervision, reconciling processes, periodic review). 
• Reasonable Assurance:  Not absolute assurance but a form of guarantee that information presented to stakeholders is free from material misstatement due to proper oversight and procedures that protect an organization against error, fraud, waste, and abuse. 
• Achievement of Objectives:  Controls should be designed to facilitate a reportable segments ability to achieve their mission from an operational, reporting, and compliance standpoint.   

 

Why Controls are Important 

All Employees should be aware of the College’s goals, and their role in fulfilling the mission. You should be routinely exercising good judgement and act in a manner that protects the institution from loss, waste, fraud, and error. All employees should seek out opportunities for improvement and act in the best interest of the College and the Public; continuous improvement is key! 

A strong Internal Control Program promotes: 

• Continuous Improvement 
• Efficiency of Operations
• Effective Communication
• Accountability
• Risk Awareness and Planning
• Reliable Reporting
• Regulatory Compliance 

 

Fraud Policy and Report Form

In the event you suspect misconduct regarding the utilization of SUNY resources, contact our Internal Control Officer Wendy Gilman for a confidential discussion, to the extent permitted by law at (518) 255-6996 or visit https://www.cobleskill.edu/about/offices-services/business-affairs/fraud-policy.aspx

 

Questions? 

Any questions or concerns regarding our Internal Control Program please contact: 

 

Laura Gross, Vice President for Finance and Operations
Internal Control Officer 
grossll@cobleskill.edu
518-255-5626

  

Also, please visit our website at: 

https://www.cobleskill.edu/about/offices-services/business-affairs/fraud-policy.aspx