Office of the State Controller Self-Assessment of Internal Controls Investment Cycle Objectives and Risks Agency ____________________________ Year-End _________ Objectives Risks All purchase or sales transaction are initiated by Unrecorded or unauthorized authorized individuals, conform to investment transactions; transactions at inappropriate objectives, policies and regulations and are prices or at unfavorable terms; payment of properly documented and approved. fictitious or inflated prices. All documents evidencing ownership or other Unauthorized use of assets for rights are subject to effective custodial personal gain; loss or theft of assets. accountability procedures and physical safeguards. All transactions are promptly and accurately Misappropriation of interest income, recorded in adequate detail records and proceeds from sales transactions; appropriate reports are issued. concealment of unauthorized transactions. All transaction are properly accumulated, Misstating financial statements; classified and summarized in the accounts. concealment of misappropriations.
Office of the State Controller Self-Assessment of Internal Controls Investment Cycle Objectives and Risks Agency ____________________________ Year-End _________ Objectives Risks All purchase or sales transaction are initiated by authorized individuals, conform to investment objectives, policies and regulations and are properly documented and approved. Unrecorded or unauthorized transactions; transactions at inappropriate prices or at unfavorable terms; payment of fictitious or inflated prices. All documents evidencing ownership or other rights are subject to effective custodial accountability procedures and physical safeguards. Unauthorized use of assets for personal gain; loss or theft of assets. All transactions are promptly and accurately recorded in adequate detail records and appropriate reports are issued. Misappropriation of interest income, proceeds from sales transactions; concealment of unauthorized transactions. All transaction are properly accumulated, classified and summarized in the accounts. Misstating financial statements; concealment of misappropriations.
NCOSC_Risk_Assessment2009ICQ_SAUCC.docx