Related parties transactions
Fiscal Transactions with the potential to be less than arm's length due to the relationship between a University Officer and a third party (or relationships which result in the Officer's ability to influence the outcome of events differently from that which might result in the absence of that relationship). The ability to influence may be indicated in several ways, such as representation on the board of directors, significant ownership interest, participation in policy-making processes, material inter-company transactions, interchange of managerial personnel, or technological dependency.
Rental vehiclesVehicles rented from a company in that business.
Significant deficiencies in the design or operation of internal controls that could adversely affect the University's ability to initiate, record, process, and report financial data consistent with the assertions of management in the financial statements.
a transaction that is the subject of external reporting by the university as a result of additional external rules, such as the State Fiscal Rules or the Internal Revenue Code.
Refers to the level of Organizational Unit or Sponsored Project for which an individual Fiscal Principal has responsibility.
University Information for which the university can reasonably expect will not be made available to the public due to business reasons, contractual obligations or risk determination and has not been classified as private. Examples include proprietary research data, risk assessments detailing potential weaknesses in the university's computing infrastructure, and inventories of hazardous materials.
The process of evaluating and responding to risks to University information for the purpose of reducing those risks to acceptable levels. Risk management is inclusive of the risk assessment process, and uses the results of risk assessments to make decisions on the acceptance of risk or on taking action to reduce risk.