FISMA

In 1983, the California Legislature passed the Financial Integrity and State Manager’s Accountability Act (FISMA). This act required that state agencies establish and maintain a system of internal accounting and administrative control. To ensure that the requirements are fully complied with, the head of each agency is required to prepare and submit a report on the adequacy of the system of internal accounting and administrative control following the end of each odd-numbered fiscal year. The Office of the University Auditor of the CSU is currently responsible for conducting such audits within the CSU.

CSU, Chico’s most recent FISMA audit was conducted in the Spring of 2008. In the opinion of the University Auditor of the CSU, the accounting and administrative controls at CSU, Chico in effect as of May 2, 2008, taken as a whole, was sufficient to meet the objectives under the audit. Audit Report Number 08-03, issued on August 19, 2008, outlines the scope of the audit and includes an Executive Summary which provides management with an overview of conditions requiring attention. These conditions are detailed in the Observations, Recommendations, and Campus Responses Section of the Report. The University is scheduled to begin its next FISMA audit in March 2010.