State of North Carolina

Office of the State Controller
Michael F. Easley, Governor
Edward Renfrow, State Controller
Gwen Canady, Chief Deputy
March 28, 2001
Memorandum SAD 01-47 
To:  Chief Fiscal Officers
Vice Chancellors
Business Managers
From:  Don F. Waugh
Assistant State Controller
Subject:  Self-Assessment of Internal Controls 
Please be advised there are no revisions to the internal control questionnaire for the 2001 fiscal year. The internal control questionnaire is a management tool to be used as an assessment of an entity’s internal control system and may need interpretations to relate to your entity. A completed copy of the questionnaire should be maintained by your office and available for review by the Office of the State Controller and the Office of the State Auditor. A new questionnaire does not need to be completed for each fiscal year; however, it should be reviewed for the fiscal year ended June 30, 2001. Any revisions should be noted on the existing questionnaire. Also, the Internal Control Cycle-Not Applicable and Internal Control Cycle-No Changes for the Year sample attachments should be completed for each section. A complete copy of the self-assessment of internal controls is located on the OSC website:

http://www.osc.state.nc.us/sigdocs/sig_docs/sigSelfAssessment_of_Internal_Contr.html

Questions concerning the Self-Assessment of Internal Controls should be directed to Cathy Johnson at (919)981-5492 and tax compliance issues should be directed to Randy Thomas at (919)981-5488.

DFW/CCJ

Attachment

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