Policies and Procedures Manuals Knowledge and Training of personnel Tickler Files/Checklists Presence of an Effective Accounting System Legislative and Management Monitoring Management’s identification of changes in laws and regulations Management’s communication of changes in laws and regulations to employees Suggested Audit Procedures Compliance (Substantive) Tests: – Trace a representative selection of interest earned during the fiscal year and determine that it was paid into the proper funds. Audit implications (adequacy of the system and controls, and the direct and material effects of non-compliance, effects on the audit opinions and/or footnote disclosures, significant deficiencies/material weaknesses, and management letter comments): Section B: County and Requirements The provisions of Ohio Rev. Code Chapter 135 relating to counties (and county hospitals) are in separate sections from the provisions relating to all other subdivisions. However, in most cases the requirements are very similar. 5-4 Compliance Requirements: Section 5-4 presented under Section A applies to counties and hospitals. 5-6 Compliance Requirement: Ohio Rev. Code §135.34 and §135.341 Investment advisory – committee; county commissioners’ review of investment policies. Summary of Requirements: Ohio Rev. Code §135.341(A) establishes in each county a county investment advisory committee of 3 members: 2 county commissioners; and the county treasurer The of county commissioners declare that all 3 county commissioners shall serve on the county may investment advisory committee. If the board so declares, the county investment advisory committee consists of 5 members: the 3 county commissioners; the county treasurer; and
Policies and Procedures Manuals Knowledge and Training of personnel Tickler Files/Checklists Presence of an Effective Accounting System Legislative and Management Monitoring Management’s identification of changes in laws and regulations Management’s communication of changes in laws and regulations to employees Suggested Audit Procedures – Compliance (Substantive) Tests: Trace a representative selection of interest earned during the fiscal year and determine that it was paid into the proper funds. Audit implications (adequacy of the system and controls, and the direct and material effects of non-compliance, effects on the audit opinions and/or footnote disclosures, significant deficiencies/material weaknesses, and management letter comments): Section B: County and Requirements The provisions of Ohio Rev. Code Chapter 135 relating to counties (and county hospitals) are in separate sections from the provisions relating to all other subdivisions. However, in most cases the requirements are very similar. 5-4 Compliance Requirements: Section 5-4 presented under Section A applies to counties and hospitals. 5-6 Compliance Requirement: Ohio Rev. Code §135.34 and §135.341 – Investment advisory committee; county commissioners’ review of investment policies. Summary of Requirements: Ohio Rev. Code §135.341(A) establishes in each county a county investment advisory committee of 3 members: 2 county commissioners; and the county treasurer The of county commissioners may declare that all 3 county commissioners shall serve on the county investment advisory committee. If the board so declares, the county investment advisory committee consists of 5 members: the 3 county commissioners; the county treasurer; and