The New York State Governmental Accountability, Audit and Internal Control Act (the Act), Chapter 510 of the Laws of 1999, requires that all state agencies institute a formal internal control program.
The Division of Budget (DOB) further outlined the efforts required of state agencies to comply with the Act through issuance of the Budget Policy and Reporting Manual Item B-350, Governmental Internal Control and Internal Audit Requirements. In addition to outlining the performance of certain internal control responsibilities, we must annually certify to DOB that we are in compliance with those requirements. The internal control responsibilities required by DOB are:
- Establish and maintain guidelines for a system of internal controls.
- Establish and maintain a system of internal controls and a program of internal control review.
- Make available to each employee a statement of the policies and standards with which they are expected to comply, emphasizing the importance of internal controls and the responsibility of each employee for effective internal controls.
- Designate an Internal Control Officer to implement and review the internal control program.
- Implement education and training efforts to ensure that employees have adequate awareness and understanding of internal control standards.
- Periodically evaluate the need to maintain an Internal Audit function.
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