University of Kentucky Internal Audit
UKIA MISSION STATEMENT
To support UK in its pursuit of excellence by providing advisory and assurance guidance to champion reasonable assurance regarding the achievement of management objectives.
New! Tip of the Month
The "Tip of the Month" is designed to share UK Internal Audit’s (UKIA) audit and advisory experiences with the UK community. The UKIA Tip of the Month for November 2014 is Cash Handling.
A critical part of UK's revenue cycle is the point of sale or cash collection location, which currently exceeds more than 100 locations. All locations are required to adhere to UK cash handling regulations. These regulations are designed to reduce the risk associated with improper cash handling activities (e.g. Register Disbursements, Cash Larceny, Skimming or Check Tampering). Asset Misappropriation, which includes cash and cash equivalents, is the number one type of occupational fraud for employers according to survey results from the Association of Certified Fraud Examiners 2014 Report to the Nations. UKIA has four tips also known as "SCAR" to assist units/departments with reducing the risk associated with these activities. Read more …