SAS 115 Financial Reporting Controls

SAS 115 Financial Reporting Controls

The David Geffen School of Medicine (DGSOM) strives to ensure that financial transactions recorded in the general ledger are accurate, complete, and properly presented in accordance with Statement of Auditing Standards 115 ("SAS 115"). These procedures provide those charged with departmental governance and fiduciary responsibilities reasonable assurance that recorded transactions are in accordance with relevant policies, regulations, and sponsors' terms and conditions.

On this page you can expect to find:

  • Monthly Financial Reviews
  • Expired Funds
  • Capital Equipment
  • Cashiering


Questions about SAS 115? Please email us at DeansOfficeCompliance@mednet.ucla.edu.

SAS 115 Monthly Financial Review

While guidance on financial reporting does exist in UCOP and UCLA policies, specific procedures have been developed for SAS 115 compliance at DGSOM. These key procedures, designed to provide a consistent approach across departments, ensure that management can identify and remediate deficiencies in financial reporting in a timely manner.

Departments must submit their monthly review of the SAS 115 Significant Fluctuations and Overdrawn Funds reports per the instructions below. 

Please note that given the size and scope of the expired funds project, it is currently being managed as part of a separate monthly review process and can be found on the next section of this page.

The next SAS 115 Monthly Review is due by: CURRENTLY SUSPENDED

 

SAS 115 Expired Contracts & Grants Funds Closeout Project

The DGSOM Controller’s team will be providing the EFM expired funds report generated by EFM to departments on a monthly basis. Guidance about interpreting the data in the EFM report is provided below. Questions about SAS 115? Please email us at DeansOfficeCompliance@mednet.ucla.edu.

 

SAS 115 Capital Equipment Tracking Project

The DGSOM Controller’s team is working in conjunction with the DGSOM Property Accountant - Special Projects, to establish procedures governing the acquisition, tracking, tagging, and disposal of capital equipment.

Questions about the Capital Equipment process? Please email DeansOfficeCompliance@mednet.ucla.edu.

 

SAS 115 Cashiering Policy

The DGSOM Controller’s team has collaborated with Hospital Cashiering, MDDS, and campus stakeholders to establish centralized cashiering procedures that ensure compliance with UCOP Policy BUS-49. Questions about the DGSOM Cashiering process? Please email DeansOfficeCompliance@mednet.ucla.edu.