EDINBORO UNIVERSITY OF PENNSYLVANIA
AUDITS-Policy No. F010
Recommended for Approval By Richard E. Morley, Vice President for Financial Operations
Approved By Foster F. Diebold, President on September 19, 1990
Review Date: As Required
INTENT
Annual audits should be performed by independent certified public accountants to enhance
the financial integrity of the University and affiliated organizations.
POLICY
Independent certified public accountants will perform annual audits of the University and each
affiliated organization including Edinboro University Alumni Association, Student Government
Association and Edinboro University Services, Inc. All University personnel will cooperate
fully with audits performed by independent certified public accountants and any audits
performed by governmental agencies.
PROCEDURES
1. Financial Statements
a. The Vice President for Financial Operations will recommend to the President a
Certified Public Accountant firm(s) to audit the University and each affiliated
organization after consulting with the Vice President for Administration and
Institutional Advancement (Edinboro University Alumni Association), the Vice
President for Student Affairs (Student Government Association) and the
President of Edinboro University Services, Inc.
b. The Vice President for Financial Operations will be sent copies of all final
financial statements when forwarded to the President and the Vice President for
Financial Operations will prepare a report on all such financial statements for
the President.
2. Management Letter
Drafts of auditors' management letters and any other commentary received from CPA or
governmental auditors, together with the University's or affiliated organization's responses,
will be reviewed by the appropriate executive supervisor (per (a) above) with the Vice
President for Financial Operations. The Vice President for Financial Operations will consult
with the President in finalizing a response to the auditors.