Operation Outlook

JUNE 2005 INSIGHTS FOR TRUSTEES Educational Opportunities June 26-29 San Antonio, TX Government Finance O?cers Assocations yearly league July 11-13 Portland, OR IFEBP Bene?t league 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 frequent August 5-10 Anchorage, AK National Association of State Retirement Administrators 51st annual Conference The Importance of Internal Auditing Recent headlines like, Hevasi Audit Finds school Employees utilize at Least $11.2 Million of Rosyln School coin for own(prenominal) Bene?t send chills down everyones spine, particularly if they atomic number 18 ?duciaries charged with making sure that the get oversight and checks and balances be in place to prevent undetected errors or, worse yet, peculation from occurring i n 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 everyday 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 bludgeon fees, dry cleaning, and note service to name a few). Auditors in the end determined that this misapplication! of funds occurred because there was a end 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 honest news is that, with the proper internal controls and administrative oversight, situations such as this...If you want to give rise a full essay, revision it on our website: OrderCustomPaper.com

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