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SAS 112 Initiative - Procure-to-Pay (P2P)
A Campus-wide Internal Control and Business Process Enhancement Project
SAS 112 is an auditing standard, effective as of FY2007, which significantly
raises the bar for internal control compliance and documentation. The University
is proactively responding to these new requirements through the SAS 112 Initiative.
Essentially, the SAS 112 Initiative aims to document and enhance the controls within
each of the University's business processes.
A key component of this initiative is to formalize process ownership of the
various business cycles within the University. Accordingly, the project has adopted
a "Process Owner" approach: For each business process, the process owners
will be identified and play a key role in the documentation, evaluation, and
enhancement of internal controls. The first business process to take part in the
SAS 112 Initiative is Procure-to-Pay (P2P).
Procure-to-Pay (P2P) Project
The SAS 112 Initiative P2P Project was officially announced to the
Senior Roundtable in December 2007 and launched in January 2008 as the first part of
the University's effort to document and improve internal controls for all business
processes. Business Services and Purchasing Services are named as the Process Owners
for Procure-to-Pay.
The SAS 112 - P2P Project will be managed collaboratively by
Purchasing Services, and the
Office of Audit,
Compliance & Privacy and the
Office of
the Comptroller will participate on the core project team. Executive sponsors
for the project are Marie Witt (Vice President for Business Services) and
Mary Lee Brown (Associate Vice President for Audit, Compliance & Privacy).
The core project team will review and update procure-to-pay related business
processes, staff duties and responsibilities, and internal business controls.
Opportunities to improve operating efficiency, effectiveness, and/or controls will
be identified during each phase.
Phase I
Central administrative offices (Purchasing Services and Office of the Comptroller)
will update existing internal procedures and document the entire purchase order,
purchasing card, and internal disbursement (C-Form) processes. The team will identify
control weaknesses/gaps and opportunities for greater efficiencies. Improvements will
be developed and corrective action will be taken immediately or planned for future
implementation.
Phase II
This phase, to be launched in June 2008, will expand the project to Schools and
Centers across campus. Schools and Centers will be requested to respond to
survey/questionnaire regarding their current procedures related to the purchase order,
purchasing card, and internal disbursement (C-Form).
Phase III
The team will analyze survey results to identify opportunities for stronger
controls and greater operating efficiency.
Phase IV
Based on the results of the Phase III analysis, the team will develop proposed
improvements to the P2P business process, including but not limited to:
- Establishment of formalized duties, responsibilities, and internal controls
- Identification of best practices and performance metrics
At the end of this phase, a blueprint and timeline for the proposed changes will
be developed.
Phase V
Proposed changes/improvements will be implemented to reduce risks related to
control deficiencies, increase efficiency and effectiveness, enhance performance
management, and reduce costs.
Feedback
Regular project updates, announcements and key accomplishments will be posted to
this site on a regular basis. Please direct all questions regarding this project to
Ralph Maier in Purchasing Services.
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