§ 1. No title.
153 words·~1 min read·
/ny/senate-rules/guidelines-for-a-system-of-internal-controls/1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 1. Pursuant to Article 6 of the Legislative Law as enacted by
the New York state governmental accountability, audit and internal
control act of 1987, the following guidelines for a System of Internal
Control are hereby established:
a. all financial transactions shall be executed in accordance with the
general or specific authorization of the Temporary President or his or
her designated representative;
b. all financial transactions shall be recorded in conformity with
generally accepted accounting principles or other applicable criteria
and to maintain accountability for assets;
c. access to assets shall be permitted only in accordance with the
authorization of the Temporary President or his or her designated
representative;
d. the recorded accountability for assets shall be compared with the
existing assets at reasonable intervals and appropriate action shall be
taken with respect to any differences; and
e. the system of internal controls shall provide reasonable assurance
that the foregoing are accomplished.