Ledger Review Process Overview

Review Financial Results and Key Risk Areas.

Overview

UCOP Policy BFB BUS-10 requires that “Department Heads and delegated Department Administrators establish monitoring procedures to provide assurance that financial transactions are appropriate, are accurately recorded and comply with applicable regulations, policies, etc.” 

In Aggie Enterprise (AE), the set of activities described as Review Financial Results and Key Risk Areas serve the same purpose: to establish monitoring processes with applicability to all units that along with other controls within the AE system, help to ensure that transactions within the financial system are valid, compliant, and correct. 

It is important to note that as unit activities are varied and complex, units may need to provide additional requirements tailored to their unique circumstances to ensure adequate stewardship of the resources under their management.

UCD Policy 330-11 Departmental Financial Administrative Controls and Separation of Duties is the applicable local policy. 

Policy:

• UCOP Policy BFB BUS-10
• Policy 330-11

What is required?

Staff who are financially responsible at the E and G financial department levels are required to complete a monthly review of financial results and key risk areas in Aggie Enterprise (AE). Staff who are financially responsible at the C financial department levels are required to complete a quarterly review of financial results in AggieEnterprise Planning (AEP), and to provide oversight that ensures requirements are met by financial department levels E and G. 

These requirements apply to Fin Dept Level B = UC Davis Campus only. ANR, UCDH, UC Davis Foundation, and CAAA are excluded.

How is this accomplished?

Detailed requirements for the review of financial results and key risk areas and links to instructions on how to complete them at levels E and G are in the Knowledge Based Article (KBA). Staff may use other tools and methods to meet the requirements as well.