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Report Suspected Fraud, Waste & Abuse
Fraud
is defined as the intentional deception perpetrated by individuals or
organizations, either internal or external to the University, which could
benefit themselves, others, or the University or which could cause detriment
to others or the University, including falsifying financial records to
cover up the theft of money or state property.
Reporting of Suspected Fraud, Waste
& Abuse
Waste and abuse is generally defined as the intentional
or unintentional consumption, destruction, diversion, manipulation, misapplication,
misuse, or squandering of university resources to the detriment of the
University.
The Internal Audit Department shall be notified
in all cases where assets have or are thought to have been lost through
defalcation or other security breaches in the financial and operating
systems. Immediately upon such notifications, the Internal Audit Director
should ensure that the President and the Chairperson of the Board of Visitors'
Audit and Finance Committee have been notified of the potential loss.
The Internal Audit Department will perform sufficient tests to identify
the weaknesses in financial and operating procedures that permitted the
loss to occur and recommend improvements to correct the weaknesses.
A form has been provided to facilitate the reporting
of suspected improprieties to the Internal Audit Department. Strict confidentiality
will be maintained over the reporting and investigation of such activities.
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