Compliance News

Fraud Proves Costly to Institute in Funding, Reputation   (Feb 2015)
"'Even with all the appropriate controls in place to mitigate risk, if employees don’t take compliance seriously and question suspicious activities, the controls won’t work effectively,' said Phil Hurd, chief audit executive and director of Internal Auditing. 'As a part of the University System of Georgia, we are required by Board of Regents policy to report any and all instances of suspected malfeasance. If you know something, please do something. We want employees to be the first line of defense.'"  Read More...
 
New Regulations Tighten Controls for Federal Awards   (Feb 2015)
"Effective since December 26, 2014, the federal government’s Uniform Requirements law is streamlining guidance and increasing accountability for recipients of federal funding. This federal law affects practically all of Georgia Tech’s $700 million in funded research. 'Prior to this law, we didn’t require bids on anything under $10,000, but that has changed to $3,000,' said Jilda Garton, vice president for research and general manager of Georgia Tech Research Corporation. 'Therefore, a lot more purchases will have to be documented.' Because this change will require many university procurement systems to be updated, this purchasing requirement will not go into effect until July 1, 2016. 'The good news for Georgia Tech is that if you make purchases through Buzzmart there is already a competitive process, so you won’t have to provide additional documentation,' Garton said."  Read More...
 
Adhering to Purchasing Regulations with Procure-to-Pay Systems   (Nov 2014)
"As Georgia Tech employees, we are stewards of state and federal dollars. And while the external state and federal regulations can be confusing to someone who doesn’t make daily purchases, Frans Barends, senior director of Business Services, explains some of the processes in place to ensure that purchase transactions are responsible and compliant."
Read More...
 
Promoting Ethical Behavior at Georgia Tech   (Oct 2014)
“‘In addition to everyone’s personal responsibility to be ethical, the Institute would like our students and employees to help Georgia Tech achieve the highest levels of ethical and fraud-free behavior across the board,’ said Steve Swant, executive vice president for the Division of Administration and Finance. ‘We are encouraging everyone to do the right thing: If you know something, please do something. Upholding high ethical standards and behavior is everyone’s responsibility.’” Read More...
 

Pages