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UMBC Audit Update - Lessons Learned & Values | Legislative & External Audit Updates

This presentation covers UMBC's recent audit updates, lessons learned, and application of organizational values. It includes insights on values, decision-making, risk management, and core audit values.

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UMBC Audit Update - Lessons Learned & Values | Legislative & External Audit Updates

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  1. UMBC Audit UpdateApril 23, 2019Presented byManagement Advisory ServicesTerry Cook, Sr. AVP for Admin. Svcs.Sharon Doherty-Ritter, DirectorDavid Sohns, Management Analyst

  2. Agenda • Welcome/Introductions • Presentation-David Mosca, Director of USM Office of Internal Audit • Legislative Audit Update • USM OIA Audits • External Audits Update • P-card/MAS Updates • Other Campus News and Alerts • Questions/Comments

  3. David MoscaDirectorUSM Office of Internal Audit

  4. Lessons Learned & ValuesApril 23, 2019

  5. Today’s Objectives • Learning Lessons • Applying Organizational Values to Lessons Learned

  6. Recent Headlines Admissions Scandal • Bribes • SAT/ACT Cheating Delaware State Employee • Changing Residency Status • Estimated Cost to University - $3 Million

  7. Some Painful USM Lessons • Senior Executive Tells a Department to Hire Son and His Girlfriend. • Senior Executive Awards a Scholarship to their Spouse.

  8. How do Bad Decisions EVOLVE? • Cutting Corners • Executive Hubris? – Studies Show People in Position of Power Become Tone Deaf and Unaware • Enablers and Fear of Confrontation • No Peer or Authority to Help Stay Centered

  9. Problem Solving to Manage Risks • Values - What is important and who manages the risks? • Objectives - What outcome do you want (or not want)? • Monitoring - How are you able to verify objectives are being met? • Control Activities – Are there Policies and Procedure established to guide carrying out objectives? • Information and Communication - Is adequate information available to convey objectives and measure success?

  10. Speak Directly to the Obvious. • Find the Person that Can Tell You No. • Ask Yourself If You Cut Corners and Don’t Think Anyone Notices How to Discuss Values and Stay Aware

  11. Internal Audit Core Values • Honesty • Credibility • Awareness • Responsibility • Sense of Humor

  12. Legislative Audit

  13. Legislative Audit • Fiscal Compliance auditors commenced fieldwork in October 2018 • Audit Period: 03/19/2015 – 10/31/2018 • IT auditors commenced fieldwork in January 2019 • Both Fiscal Compliance and IT auditors have completed field work as of 4/16/2019

  14. Legislative Audit Anticipated Timeline • Discussion notes: Mid-May • Exit Conference: Late-May or June • Audit report: July

  15. Legislative Audit • Up to six (6) potential issues noted: • Cash Receipts/Deposit Verifications • Payroll/Other Earnings and Leave Adjustments • PeopleSoft SA/Unnecessary Access • Graduate Assistant/Tuition Waivers • Financial Aid/Review Documentation • On-Call Maintenance Contracts/Hourly Rates

  16. Legislative Audit Good News! • No repeat audit findings • No P-card related audit findings

  17. USM OIA Audits

  18. USM OIA Audits – In Process Campus Card and Mail Services– follow-up commenced 02/06/2019

  19. USM OIA Audits - Completed • Capital Projects >$5M (ILSB) • 5 areas with reasonable controls in place • 1 area identified as an area of improvement • Final Response/Corrective Action Plan sent on 02/04/2019

  20. USM OIA Audits - Completed 2. Residential Life • 3 opportunities for improvement out of 32 areas examined • Final response/corrective action plan sent on 03/04/2019

  21. USM OIA Audits - Completed 3. IT Security Standards Compliance • 40 out of 56 IT security standards implemented • 16 standards in-process • Final response/corrective action plan sent on 04/17/2019

  22. External Audits Update

  23. External Audits Update State of Maryland Single Audit (SB & Company) • Purpose: To ensure adherence to Registrar’s reporting requirements • Report received in February • 1 area identified as opportunity for improvement • Final response/corrective action plan sent in March

  24. P-Card News

  25. P-card Reminders • State contract with US Bank renewed • Rafael Espinoza - New UMBC PCPA • Online P-card training available • Online P-card Refresher training to be conducted in FY 20 for all • Reminder: Sign logs and statementstimely

  26. P-card Reminders • Conduct thorough reviews • Online automated PS Transaction Log • Update transaction log descriptions! • DO NOT share P-card numbers!

  27. MAS Updates

  28. MAS Update • MAS Internal Control (IC) training in Summer 2019 • IC training PowerPoint presentation available on MAS website • Developing online Ethics/Internal Control training- Anticipated rollout in Fall 2019 • Joint MAS/HR Background Check Initiative-ongoing

  29. Other Campus News • Caution: Watch for fraudulent invoices! • AP received fraudulent invoices marked past due for payment • Verify good and services received from vendor • Fraudulent invoices often reference UMBC employees • Make sure UMBC email is correct (i.e., xxxx.edu!)

  30. Other Campus News • Caution: Watch for fraudulent emails! • Staff person received fraudulent email from supposed supervisor • Email instructed cardholder to purchase gift cards from Bookstore • Cardholder instructed to forward gift card information to supposed supervisor • Make sure UMBC email is correct (i.e., xxxx.edu!)

  31. Any Questions/Comments?

  32. UMBC Audit Update MeetingMAS Staff • Sharon Doherty-Ritter (5-1620) • Dave Sohns (5-6257)

  33. UMBC Audit UpdateApril 23, 2019Presented byManagement Advisory ServicesTerry Cook, Sr. AVP for Admin. Svcs.Sharon Doherty-Ritter, DirectorDavid Sohns, Management Analyst

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