WSU Audit Update Blog

We previously discussed how occupational fraud refers to fraud committed by individuals against the organizations that employ them. We continue our occupational fraud series by reviewing the control weaknesses contributing to fraud. Awareness of common control weaknesses can help you proactively manage risk in your area of influence.

Is occupational fraud something that happens in higher ed? Unfortunately, news headlines suggest it happens all too often. But what is occupational fraud, and what does it look like in a university environment? Knowing the answers to these questions will heighten your awareness of what can happen and help you proactively manage risk in your area of influence. This post is the first in a planned series about the topic.

WSU Export Control & Compliance Officer James Elliott joins us again for part two of his column explaining the prevalence and importance of Export Controls. Elliott summarizes the principal areas subject to Export Controls, followed by those that are not, and when to seek guidance.

Export Controls are more prevalent than you might think at first. WSU Export Control & Compliance Officer James Elliott joins us this month for the first of a two-part column. Elliott provides an overview of the vast number of regulatory items under the giant umbrella known as "Export Controls."

An essential part of cybersecurity is compliance with the Payment Card Industry Data Security Standard (PCI DSS), an initiative designed to protect payment card data. The university has a committee of finance and IT professionals dedicated to overseeing its compliance effort. What cybersecurity risk is most relevant to WSU?

The WSU Audit Update Blog recently featured a "Your Role in Internal Control" series explaining the origins and components of internal control systems. Everyone has a role in internal control! When you earn the WSU Internal Control All-Star digital credential, you demonstrate your understanding of your vital contribution to the university's internal control system!

We wrap up the "Your Role in Internal Control" series with a final walkthrough. You'll find links to all eleven previous installments and a snippet of text from each highlighting its theme. What were your top three takeaways from the series? What are your top three control activities for keeping things on track in your area?

We previously discussed the essential preventive and detective controls most often used for internal control. But those aren't the only tools available to you. Here we'll identify additional control measures and show how they work using examples from WSU processes. Internal controls are not obstacles. They are enablers for taking action! The control activities you adopt in your area of influence can help you keep the things you care about on track.

Previously, we said risk assessment identifies and analyzes relevant risks to an organization's objectives. It's recognizing and evaluating potential problems and determining how to manage the threat they pose. But where do you begin? 

As we near the end of the "Your Role in Internal Control" series, let's revisit the component that provides the foundation for any system of internal control, the Control Environment. What can happen in a department with a poor control environment, where controls are lax, oversight is poor, and no one notices or follows up? Here we review what a California university learned when the control environment in one of its departments was lacking.