Before your department begins participating in the transaction sampling process, consider the following:
Changing your approval processes:
- Review your current transaction approval processes to make sure you are using sound business practices.
- Review all front-end approval processes with the understanding that only a small percentage of transactions will be reviewed on the back end.
- Train staff regarding any changes to approval processes.
- Make sure you have separation of duties between preparers and approvers.
- Identify areas of risk and implement appropriate internal controls.
Changing your approval templates:
- Financial managers, DSAs, and MSOs should review all IFIS approval templates.
- Some documents might require additional review at the highest level. As you review your templates, you may need to make changes for better internal controls.
- Find more information on approval templates.
Department filing system: If the department is the office of record for expenditures, the department must maintain documents such as packing slips, Express Card purchases, cash collections, department recharges, etc. Departments must set up filing systems that make it easy to retrieve documents associated with both sampled and non-sampled transactions.
After deciding to participate in transaction sampling, you should review your filing system. Decide if your current system is adequate by asking yourself:
- How will we know if something is pending or paid/ complete?
- Should some items be separate? If so, which items?
- How should we handle items that are split-funded?
Questions? If you have technical questions about the Ledger Reviewer tool, contact Mojgan Amini, (858) 534-1023. For policy questions, contact Debbie Rico, (858) 822-2797.
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