Internal Controls Questionnaire

The University's code of ethics clearly expresses our institutional commitment to integrity and ethical values.  This commitment is further communicated through the establishment of policies that clearly convey expectations and through the deployment of procedures detailing how to put those policies into action.  Individual understanding, commitment, and adherence to the code of ethics, compliance with policies, and adherence to procedures are foundational to internal control.

The annual completion of the Internal Controls Questionnaire (ICQ) by unit leaders responsible for stewardship of University resources serves two purposes: 1) it is an acknowledgment of the individual’s (and unit’s) understanding of and commitment to internal control; and 2) it provides an opportunity for unit level review and discussion of individual roles and responsibilities for internal control.

The University must annually certify to the State Comptroller regarding the adequacy of our internal controls and the ICQ process is one of the bases upon which that certification is made. Similar requirements are established under Restructuring, by the Commonwealth's Agency Risk Management and Internal Control Standards (ARMICS), and the terms and conditions (e.g., Uniform Guidance at 2 CFR 200) applicable to Federally sponsored programs.

Frequently Asked Questions

Who is responsible for Internal Controls at UVA?

The short answer is that all UVA employees are expected to perform their duties in accordance with proper internal control, including identifying and reporting any observed weaknesses. This expectation is formally expressed in University policy FIN-021, Internal Controls, which identifies the Assistant Vice President for Financial Operations (AVPFO) as being responsible for the promulgation of policies and procedures directed toward the establishment of good internal control.  The policy also sets explicit expectations and duties for individuals who are responsible for administering University funds and resources as well as for the University's internal auditors.   

Failure to comply with the requirements of FIN-021 may result in disciplinary action up to and including termination and expulsion in accordance with relevant University policies. 

Resources

Questions about the Internal Controls Questionnaire, Corrective Action Plans, ARMICS, or internal controls? Contact us at icq@virginia.edu. You may also contact an FOC team member directly, see our Contacts page for individual bios and contact information.