M7_Module Review

This is considered "an evaluation of metrics and performance over a previous period."

• report

• reconciliation

• review

True or False: Transactions marked for further review in FINTRACS are carried forward to the following month for future resolution.

• True

• False

Which of the following describes the final reviewer role?

• certifies the monthly review after all funds have been prepared by completing a checklist

• performs the monthly review of transactions; required to review all transactions flagged by FINTRACS

Which of the following describes the preparer role?

• certifies the monthly review after all funds have been prepared by completing a checklist

• performs the monthly review of transactions; required to review all transactions flagged by FINTRACS

Which of the following roles in the financial review process is OPTIONAL?

• preparer

• intermediate reviewer

• final reviewer

True or False: VTF funds are flagged in FINTRACS based on their own set of business rules.

• True

• False

True or False: Payroll and Non-Payroll transactions will be shown on the same screen in FINTRACS.

• True

• False

True or False: The reviews that are done within FINTRACS do not need to be printed and retained.

• True

• False

Select all additional transactions that should be reviewed on a regular basis.

• Salaries

• Leave

• Department-specific Procedures

• Employee Bio Information

Policy 3100 describes "an essential internal control that prevents or detects errors and irregularities by separating the responsibilities for initiating, processing, and recording of financial transactions and custody of related asset between two or more competent and qualified individuals." This essential internal control is known as -

• review

• segregation of duties

• audit

• compliance