Operation Outlook

JUNE 2005 INSIGHTS FOR TRUSTEES Educational Opportunities June 26-29 San Antonio, TX Government Finance O?cers Assocations one-year league July 11-13 Portland, OR IFEBP Bene?t concourse for Public Employees July 12-15 Lake Ozark, MO Missouri Association of Public Employee Retirement Systems one-year Conference July 14-15 Brook?eld, WI IFEBP Investment Basics Conference July 30-August 2 San Diego, CA National Council on Teacher Retirement Trustee shit August 5-10 Anchorage, AK National Association of State Retirement Administrators 51st yearly Conference The Importance of Internal Auditing Recent headlines like, Hevasi Audit Finds condition Employees utilize at Least $11.2 Million of Rosyln School finances for own(prenominal) Bene?t send chills down everyones spine, particularly if they atomic number 18 ?duciaries charged with making sure that the distinguish oversight and checks and balances be in place to prevent undiscovered errors or, worse yet, peculatio n from occurring in the organizations for which they have the ultimate responsibility. In the case of the new-fangled York School District, at least $11.2 million of cosmos pecuniary resource were misappropriated for the bene?t of individuals employed by the district.

Among the items purchased or compensable for with the districts resources were private mortgages and loans, unlicensed salaries and bene?ts, computers and electronic equipment, ?nancing of personal automobiles, unauthorized travel, food, and miscellaneous personal items (including ?tness lodge fees, dry cleaning, and note service to name a few). Auditors in conclusion determined that this! misapplication of funds occurred because there was a tell apart breakdown of inner controls the lack of having sound business practices in place to publish im kosher and excessive spending created an environment where multiple abuses of ruse and other unscrupulous activity occurred. The unspoiled news is that, with the proper internal controls and administrative oversight, situations such as this...If you want to give rise a full essay, stage it on our website: OrderCustomPaper.com

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