Systemwide Review of the UC Policy on the Principles of Accountability with Respect to Financial Transactions

To: UC Santa Cruz Community

From: Sarah Latham, Vice Chancellor, Business and Administrative Services, and Kirk Lew, Assistant Vice Chancellor and Campus Controller

The Office of the President has invited the University community to comment on the proposed Presidential Policy on the Principles of Accountability with Respect to Financial Transactions. The proposed policy document is available for download.

The proposed policy is a codification of an existing UCOP financial policy currently posted on the UCOP Chief Financial Officer's website. It has been revised to conform to the 2013 Committee on Sponsoring Organizations of the Treadway Commission (“COSO”) Integrated Control-Integrated Framework, which provides authoritative guidance to large organizations on establishing an effective financial control environment. Of note, the proposed policy provides the following information:

  • An overview of the financial accountability, financial management, data integrity, and compliance requirements expected to be incorporated into campus standards and procedures governing
    financial transaction handling
  • A chart outlining the roles and responsibilities associated with different financial transaction handling duties
  • Important principles that University employees are expected to consistently apply in handling financial transactions and related financial management duties

We would appreciate you forwarding your questions and/or comments to Ryder Fletcher ( by November 16, 2018. Thank you for your assistance.