Internal Controls for Financial Data Guide

Written by Arianna Williams.

The University Controller’s Office is proud to announce the new Internal Controls for Financial Data Guide has been published. This guide offers an introduction to internal controls in the context of financial data, explores the fundamental concepts and principles of internal controls and introduces the importance of internal controls for safeguarding assets. Ultimately, the goal of this guide is to ensure compliance and enhance operational efficiency.

The guide includes such topics as: 

  • The impact of NC State’s governance and culture on the university’s operating styles.
  • Identification of internal and external risks that could potentially threaten the university and suggestions on how to possibly prevent or reduce risks.
  • Preventive and detective control activities designed to ensure that management directives are carried out.
  • Information, communication and reporting.
  • Monitoring activities to determine if controls are operating as intended.
  • Reliability of financial reporting.
  • Tips on safeguarding university property.
  • Key controls to deter fraud.
  • Levels of review and approval.
  • Efficiency and effectiveness of operations.
  • Limitations of internal controls.
  • UNC System Office Operating Instructions for Internal Controls.
  • Annual Internal Controls Over Financial Data Reporting (AICFR).

The Internal Controls for Financial Data Guide also includes resources and best practices. If there is a topic that you would like to see included, please contact Jennifer Brady at