Alberta auditor general urges ACAD to tackle "internal control" issues

April 15, 2011

The Alberta College of Art + Design is facing a large number of problems, such as a lack of financial controls and how it handles suspected fraud, the province's auditor general warns in his semi-annual report, released Thursday. The auditor general calls on the institution to tackle a variety of "internal control" issues, including drafting a fraud policy and code of conduct for staff and developing a better way to approve fees under the extended studies program. While ACAD has made a number of encouraging improvements recently, it must develop a number of new measures to protect itself from financial risks, the auditor general says. An ACAD official says the school has already moved on a number of suggestions the auditor general put forward. Overall, PSE issues noted in the report revolve around improving financial reporting, preserving endowment assets, and bolstering internal control systems. Calgary Herald | Report