As part of a continued commitment to the PCard process, compliance reviews are conducted. These reviews are designed to enhance the understanding of and compliance with PCard policies and procedures.
The purpose of reviews is to examine receipts and determine correct record keeping practices. Some of the attributes that are evaluated include:
- Adequacy of receipts
- Current University status of the cardholder
- Use of appropriate forms when receipts are missing and/or charges are disputed
- Compliance with reporting requirements
- The transaction review and approval process.
Our goals are to measure compliance with UNC Greensboro’s procedures; increase awareness of the purchasing card program among current and potential users; and implement process improvements where needed.
Frequently asked questions:
Why am I having a compliance review?
The goal of the PCard review is to ensure that purchases are made in accordance with State, University and PCard policies. Reviews are generally chosen randomly.
After a cardholder is chosen randomly for an audit, there will not be another random audit for the fiscal year. However, there are certain flags that may necessitate another audit.
What flags determine a compliance review?
- Appearance of splitting a transaction to circumvent per order limit
- Numerous transactions with sales tax
- Gift cards
- Travel (non-employee), food, ‘Other Current Services’, etc. without 5w
- Any other issues concerning policies and procedures
- Inappropriate use of state funds
- Delinquent reconciliation
If you are contacted about the question of using state funds for a specific purpose, respond to the PCard Compliance Auditor with:
1) Either justification of appropriateness of using state funds for the purchase
2) A copy of the Journal Voucher submitted to Accounting Services to reclassify the expenditure charging it to non-state funds.
How long will it take before I receive the results of the compliance review?
Beginning with the notification of review and ending with a Final Report, the process should be completed within two weeks.
There is always the possibility of circumstances that could delay the process. For example: The coordinator has two weeks to sign and return the Preliminary Report. If the coordinator takes the full two weeks before returning the Preliminary, then obviously the complete process will take longer.