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Region 1 Audit Committee Report 27 July 2018 Audit

Region 1 Audit Committee Report 27 July 2018 Audit. Harold Ruchelman Region 1 Audit Committee Chair h.ruchelman@ieee.org Region 1 Executive Committee Meeting 11 August 2018. Region 1 Audit. Conducted July 27,2018 at IEEE Headquarters in Piscataway, NJ Period Covered :

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Region 1 Audit Committee Report 27 July 2018 Audit

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  1. Region 1 AuditCommittee Report27 July 2018 Audit Harold Ruchelman Region 1 Audit Committee Chair h.ruchelman@ieee.org Region 1 Executive Committee Meeting 11 August 2018

  2. Region 1 Audit Conducted July 27,2018 at IEEE Headquarters in Piscataway, NJ Period Covered: January 1, 2018 to June 30, 2018

  3. Audit Committee • Harold Ruchelman, Chair • Robert Pellegrino, Committee Member Assisted by: • Bala Prasanna, Region 1 Treasurer • Caitlyn Chow, IEEE Senior Internal Auditor • Marisol Toro, IEEE Internal Auditor

  4. Audit Objectives • Review • Record keeping of Region 1 Treasurer • Procedures used by Treasurer • Expense vouchers and documentation • Account statements and cancelled checks • Verify • Account balances • Net worth

  5. Findings Net worth summary - Register

  6. Findings Net worth summary - Assessment

  7. Findings Net worth summary – LTIF

  8. Findings Net worth summary

  9. Findings • As of June 30,2018, there were three checks outstanding for a total of $375.00 .

  10. Findings • The treasurer changed the previous register balance to account for a voided check (caused by having to reissue an uncashed student award) rather than entering a negative expense in the current register report. • The purpose of the expenses was not indicated on some reports.

  11. Findings • On one reports, the purpose was indicated as a personal day. • Supporting materials for payment of student competition awards were absent. • Some receipts which were attached were extremely difficult to read.

  12. Findings • A few expense reports were incorrectly printed out so that the information was printed over multiple pages, making it difficult to process. • Some receipt totals where not correctly carried over to the Expense Reports.

  13. Recommendations • When voiding a check written during a previous audited period, it should be entered as a negative expense of the current period. • When preparing an expense report, the purpose of the trip is to be indicated. • Supporting documents are to be included for all expense reports including “Other Expense Reports”

  14. Recommendations • Please provide legible receipts. If not, those costs should not be refunded. • When printing out the expense report, please make sure it is only two pages. • Care should be taken when entering the correct cost of expenses.

  15. Conclusion • The records were in order and well organized • Accounts were reconciled and accurately balanced • Vouchers were checked and supporting information was present.

  16. Conclusion • The Region 1 Treasurer continues to diligently process vouchers and maintains clear, accurate and complete records and is to be commended for his efforts

  17. Thanks • I’d like to thank Robert Pellegrino, Bala Prasanna, Caitlyn Chow and Marisol Toro, for their help in in carrying out this audit.

  18. Questions?

  19. For additional information please contact me: Harold Ruchelman Region 1 Audit Committee Chair h.ruchelman@ieee.org 19

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