Audit

  • Sufficiently provide complimentary financial audit services by assessing the effectiveness of internal controls, making the necessary recommendations for improvement and thorough implementation in a timely manner
  • Appraise and evaluate the adequacy of controls in the University’s administrative, computing, and communications systems
  • Review systems and procedures and recommend improvements to existing processes and procedures, where appropriate

Fund Reconciliation Review

In line with its goal to review, monitor and identify both compliance and non-compliance with internal policies, procedures and guidelines, external party laws and regulations, and all agreements entered into by De La Salle University, the Risk Management, Compliance, and Audit Office has been reviewing financial reports upon the request of offices, departments, and units within the University.

Thus, the following pre-requisite attachments have been identified to efficiently facilitate financial report review procedures of the RMCA Office:

  1. Financial/ Terminal Report as required by the funding agency, signed and reviewed by the University Controller

1.1 Approved Financial Report Template as required by the Funding Agency, if any.

  1. Copy of signed Memorandum of Agreement (MOA)/ contract (with approved budget line item)

2.1 If a line item was realigned/reallocated to other budget line item/s, please provide documentation/approval from the funding agency.

  1. Statement of receipts and disbursements signed by the University Controller (including Account Analysis report w/  Subsidiary Ledger Detail) – report from Finance and Accounting Office

3.1 For items in the statement of receipts and disbursements pertaining to manual adjustments and/ or reclassifications, please provide a copy of the approved journal entries and journal vouchers.

  1. Summary and copy of PRS/ RFP used (including supporting documents)

4.1 For payments related to contracts such as honorarium or professional fee payments to internal and external resource persons, please include proof of legal review and approval from the Office of the University Legal Counsel (OULC)

4.2 If the grant is a scholarship grant, please provide a copy of the individual student’s subsidiary ledger (this is issued by the Student Services Section of OCFO), credit memo (CM or RF), debit memo (DM or RV), and final/revised Enrollment Assessment Form (EAF), as applicable.

  1. Copy of the DLSU Official Receipt for the grant received, if any.

5.1 If the funding agency is the Government or any of its subsidiaries and agencies, please provide a copy of the List of Due and Demandable Accounts Payable (LDDAP)*

  1. Reconciliation of the Financial Report and accounting records from the Finance and Accounting Office (signed and approved by the University Controller)

 

Upon receipt of the complete attachments, the RMCA Office will then conduct the review process as requested.

*The government as funding agency should provide LDDAP as a proof that the amount of grant has been transferred already to the account of the University.