Internal Control Questionnaire

INTERNAL CONTROL QUESTIONNAIRE

YES NO N/A

GENERAL

The following questions relate to the internal accounting controls of the overall organization.

1. Are the duties for key employees of the organization defined?

2. Is there an organization chart which sets forth the actual lines of responsibility?

3. Are written procedures maintained covering the recording of transactions?

a. Covering an accounting manual?

b. Covering a chart of accounts?

4. Do the procedures, chart of accounts, etc., provide for identifying receipts and expenditures of program funds separately for each grant?

5. Does the accounting system provide for accumulating and recording expenditures by grant and cost category shown in the approved budget?

6. Does the organization maintain a policy manual covering the following:

a. approval authority for financial transactions?

b. guidelines for controlling expenditures, such as purchasing requirements and travel authorizations?

7. Are there procedures governing the maintenance of accounting records?

a. Are subsidiary records for accounts payable, accounts receivable, etc., balanced with control accounts on a monthly basis?

b Are journal entries approved, explained and supported?

c. Do accrual accounts provide adequate control over income and expense?

d. Are accounting records and valuables secured in limited access areas?

8. Are duties separated so that no one individual has complete authority over an entire financial transaction?

9. Does the organization use an operating budget to control funds by activity?

YES NO N/A

10. Are there controls to prevent expenditure of funds in excess of approved, budgeted amounts? For example, are purchase requisitions reviewed against remaining amount in budget category?

11. Has any aspect of the organization’s activities been audited within the past 2...