Fiscal Control and Internal Auditing Act (FCIAA)

Overview

FCIAA is a state-mandated program to aid Illinois state agencies in conducting reviews of their fiscal and administrative systems of internal control. The FCIAA Certification provides a mechanism for the University of Illinois System to report its internal control compliance. Annually, unit heads and financial officers are required to submit FCIAA Certification for each of their respective departments.

The University of Illinois System views the FCIAA Certification as an opportunity to work together to ensure effective fiscal/internal controls are in place to protect system resources.

Strong internal controls provide reasonable assurance that:

• Information is reliable, accurate, and timely
• Policies, plans, procedures, laws, regulations, and contracts are followed
• Assets (including people) are safeguarded
• Resources are used in an economical/efficient manner
• Established objectives and goals are met

Department heads/fiscal officers are encouraged to review the items covered in the FCIAA Certification throughout the year working with OBFS and University Audits to address internal control weaknesses prior to the annual certification.

Critical Dates