Internal controls are financial and administrative processes intended to provide reasonable assurance that the College’s financial activities and related operations are conducted effectively and efficiently, that financial reporting is reliable, that applicable laws and regulations are followed, and that public funds and assets are safeguarded.
The College Internal Control Officer (ICO) is responsible for coordinating the agency-wide effort of evaluating internal controls, reporting on reviews, and improving control activities, pursuant to the State Administrative & Accounting Manual (SAAM) Section 20.10 and RCW 43.88.020(4) using the guidance in (SAAM), Section 20.15. The College’s designated ICO is the Vice President for Administrative Services.
The ICO is responsible for periodically conducting and/or overseeing a comprehensive review of the financial and operational internal control structure of the college to determine if it is adequately addressing agency risks. The ICO also provides assurance to the President of the college that the College has performed the required risk assessments and the necessary evaluative processes. This communication may be ongoing and informal, but at least once per year this assurance must be made in writing to the President.