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    Mission #1

    Deliver a comprehensive finance training program that advances the University’s compliance objectives while providing employees with job-specific skills necessary to succeed in their current positions and develop the skills that will prepare them for the next step in their careers.

  • UVA Rotunda and Lawn

    Mission #2

    Increase awareness of compliance requirements and develop methods to monitor key metrics to track compliance gains realized through outreach and training.

  • UVA Grounds in October

    Mission #3

    Enable international engagement and experiences by providing support for University activities subject to export control or sanction requirements.

MISSION

Deliver a comprehensive finance training program that advances the University’s compliance objectives while providing employees with job-specific skills necessary to succeed in their current positions and develop the skills that will prepare them for the next step in their careers. Increase awareness of compliance requirements and develop methods to monitor key metrics to track compliance gains realized through outreach and training. Enable international engagement and experiences by providing support for University activities subject to export control or sanction requirements.

Latest News

Posted: Tuesday, December 27, 2016 - 3:08pm

UVAFinance recently hosted 21 people representing 13 in-state schools to discuss internal control standards and best practices that directly support the vision and objectives of the Commonwealth of Virginia.

Specifically, the meeting was a practical forum to network and discuss state Agency Risk Management and Internal Control Standards (ARMICS). 

In 2006, the Commonwealth mandated through ARMICS the annual assessment of internal controls systems.  Each state agency is required  to provide reasonable assurance of the integrity of all fiscal processes related to the submission of accounting information and financial statements to the Department of Accounts, compliance with laws and regulations, and stewardship over the Commonwealth's assets.
 
The Finance Outreach and Compliance team led the meeting of peer in-state schools in informal workgroup style, sharing experiences, lessons learned, and discussing common questions and approaches. 
 
"ARMICS was essentially the Commonwealth of Virginia's response to the federal Sarbanes-Oxley Act, a bill that was enacted in response to a number of major corporate and accounting scandals, such as Enron," says  FOC Senior Compliance Analyst Lynn Galasso.
 
"This meeting was a great opportunity for all of us to discuss ARMICS objectives."
 
The group plans to continue with ongoing meetings; the next discussion will be scheduled before Spring Fiscal Officers of Colleges and Universities State Supported of Virginia (FOCUS).