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Accomplishment Report for the period January 1 - June 30, 2014 of TSU - Internal Audit Service  

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Date Posted: 09/04/2014

REPORT OF ACCOMPLISHMENTS

January 1 to June 30, 2014

 

I. GENERAL REPORT

The Internal Audit Service accomplished the following during the stated period:

Report No.
Title
Internal Audit Report No. 1, s. 2014 Special Audit of the Trust Fund Accounts of the University
Internal Audit Report No. 2, s. 2014 Audit of the Cash Advances Granted to University Officials and Employees for the Quarter Ended December 31, 2013
Internal Audit Report No. 3, s. 2014 Audit of the Internal Control System on Sports Equipment of the University under the Sports Development Office
Internal Audit Report No. 4, s. 2014 Audit of the Internal Control System of the Business Center
Observation Report No. 1, s. 2014 Report on the Observation/Witnessing of Inspection of Deliveries
Internal Audit Report No. 5, s. 2014 System of Payroll Preparation for Job Orders and Lecturers
Internal Audit Report No. 6, s. 2014 Audit of the Systems and Procedures of the Office of the International Affairs and Studies
Internal Audit Report No. 7, s. 2014 Audit of the Systems and Procedures of the University Hostel

 

II. HIGHLIGHTS OF THE REPORTS

  1. The special audit on trust fund accounts of the university resulted into the improvement on the system of recording of receipts and disbursement to and from the funds. 
  2. The quarterly audit of cash advances granted to university officials and employees reduced the occurrence of their liquidation beyond the allowable period prescribed under COA circular 97-002.
  3. The audit on the internal control system on sports equipment resulted into the establishment of systems and procedures on the proper acceptance, warehousing and issuance of sports equipment.
  4. The audit on the internal control system of the business center resulted into the establishment of systems and procedures on the proper acceptance, warehousing and issuance of inventories.  It also strengthened the system of information communication through the generation of appropriate reports needed by management for decision making.
  5. The observation/witnessing report on inspection of deliveries opened the eyes of top management on the importance of proper inspection before acceptance of items purchased.
  6. The audit on the system of payroll preparation enhanced the existing internal control by properly segregating functions considered as red flags and streamlined the process to facilitate its fast preparation.
  7. The audit on the systems and procedures of the Office of the International affairs and Studies enhanced the procedures related to transnational education and complemented the application for proper accreditation and recognition.  The billing process was systematized and included appropriate internal control.  The structure of the office was also reconstituted.
  8. The audit on the systems and procedures of the university hostel improved the control for the billing, recording, maintenance scheduling, attendance monitoring and inventory management of the unit.

 

            Prepared by:

            JONATHAN A. GABRIEL

            Director