Financial Compliance

Overview

Financial compliance helps strengthen the internal control and compliance environment at Yale. The resources in this section, and the teams that support this work, help provide reasonable assurance that the University’s internal control structure is functioning as intended, both in terms of design and operation.

Financial compliance is dynamic and evolving, but generally consists of:

Internal control is a process designed to provide reasonable assurance of the achievement of objectives in the following categories:

  • Effectiveness and efficiency of operations
  • Reliability of financial reporting
  • Compliance with applicable laws and regulations

Internal controls framework

  • Controls and Business Process Questionnaire (CBPQ)
  • Lead Administrator, Finance Functional Leader, and Unit Leader Attestations
  • Financial Risk Control Matrices (RCMs) and Financial Risk Assessment

Financial compliance and monitoring:

  • Assesses the internal controls put in place:
    • Provides reasonable assurance that controls are operating as intended
    • Identifies gaps/risks
    • Identifies opportunities for improvement
    • Identifies training needs
  • Considers identified or emerging issues/risks
  • Contributes to setting the tone for a strong internal control environment

Compliance and monitoring framework

  • Financial Review Checklist certification and monitoring
  • Sec.117 of the Higher Education Act (20 U.S.C. 1011f) compliance
  • Data analytics over key financial data
  • Financial transaction reviews
  • Special projects

Contact and support

If you have any questions or compliance concerns, please email financial.compliance@yale.edu.

Training

Explore the innovative and engaging learning experiences on financial topics across the University.

Financial Training