| Effective Date: 1/1/92 (revised 2/1/97) |
| Office of Origin: Audit and Management Services |
This policy delineates the responsibilities of employees and Audit and Management Services with regard to suspected and actual losses as part of the University's responsibility to safeguard its assets, and to investigate any loss of University funds or property.
A. Employees who are custodians of University assets must immediately report to Audit and Management Services any suspected loss or tampering with records.
B. Audit and Management Services immediately investigates all suspected losses and reports to the proper University officials. The result of the investigation will be issued as two separate audit reports: the first report quantifies the University's loss; the second report describes the internal control weaknesses leading to the loss and recommends any required improvements.
C. The UC Business and Finance Bulletins, Procedures for Investigating Misuse of University Resources (G-29), prescribes that all suspected losses meeting the G-29 criteria be reported to the Senior Vice President - Administration, with copies to the UC General Counsel, UC Director--Risk Management, and the University Auditor. Audit and Management Services is responsible for coordinating this reporting.
D. Investigations are coordinated with management of the affected unit, the campus Police Department, Legal Affairs, campus Risk Management, and the Office of the President.
E. The University will seek restitution from persons who misappropriate University assets and will prosecute employees who commit criminal acts against the University.