Management Advisory and Compliance Services Policy:
The purpose of Management Advisory and Compliance Services Department is to assist University personnel in effectively carrying out their responsibilities by providing advisory services to University adminsitrative personnel to help assure compliance with the State of Maryland, the University System of Maryland and Towson University policies, procedures, regulations and requirements.
Management Advisory and Compliance Services encompasses the examination and evaluation of the adequacy and effectiveness of the organization's system of internal control and the quality of performance in carrying out assigned responsibilities. The Department also provides continual oversight of Towson University internal controls, risk management and quality of performance. The scope of Management Advisory and Compliance Services includes:
- Reviewing the reliability and integrity of financial and operating information and the means used to identify, measure, classify and report such information
- Reviewing the systems established to ensure compliance with those policies, plans, procedures, laws and regulations, which could have a significant impact on operations and reporting and determing whether the university is in compliance
- Reviewing the means of safeguarding assets and, as appropriate, verifying the existence of such assets
- Appraising the economy and efficiency with which resources are employed
- Acting as liaison with all external audit groups and coordinating responses to and compliance with audit report comments
Responsibility and Authority:
The Management Advisory and Compliance Services Department has full and free access to all university activities, records, properties and personnel. Management Advisory and Compliance Services is free to review and appraise all policies, plans and procedures of the university.
Management Advisory and Compliance Services is a staff function and, as such, has no authority to make operating decisions, to direct anyone in operations to take action or implement any of its recommendations. These tasks are the responsibility of the university's officers.
To permit the rendering of impartial and unbiased judgments essential to the proper conduct of reviews, Management Advisory and Compliance Services will be independent of activities reviewed.
Approved by Alan Leberknight, Vice President and Chief Fiscal Officer, 10/5/2006
Management Advisory and Compliance Services
Administrative Building, Room 207
8000 York Rd.
Towson, MD 21252