AP audits reveal lacking internal controls in Connecticut community colleges

According to The Hartford Courant, a recent audit revealed numerous problems in accounts payable across Connecticut's 12 community colleges. The state auditor who conducted the investigation told the source that the issues found "are important to the integrity of the state's financial system, to protect the public funds, reduce the risk of loss or inappropriate expenditure of state funds."

Among the deficiencies discovered was poor management of purchasing cards (P-cards). For instance, while each transaction made with a P-card was not allowed to exceed $1,000 or be split into several separate purchases to bypass the rule, this practice was occurring at more than one of Buy Viagra the audited colleges. Additionally, the news provider reported that misuse was discovered, with some employees making unauthorized purchases with their P-cards. 

AP audits revealed other issues as well, including violations of mandates to get competitive bids for certain services and failures to require part-time instructors to complete time sheets as part of the payment process, the source stated. 

To properly manage P-cards and even detect misappropriation, Fraud Magazine pointed out that organizations should make sure all purchases are reviewed regularly by both an immediate supervisor and a designated coordinator. Additionally, using certain advanced software – including audit solutions – can be helpful in eliminating issues.

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