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.

Other Resources

Review FCIAA Certification, explanations and resources

Webinar: FCIAA - Annual Internal Control Evaluation

• Registration
• November 9, 2:00 to 3:30 PM
• November 16, 10:30 AM to 12:00 PM
• Join University Accounting and Financial Reporting and the Office of University Audits to learn about the various roles in the FCIAA process, how to critically review internal controls, and identify internal control weaknesses.

Critical Dates 

Role Review in FCIAA Application	October 11 - October 22, 2021
FCIAA Application Questionnaire Available	Early November, 2021
UIUC - Department Submission & Approval Due to the College Offices for Review	December 6, 2021
UIC - Department Submission & Approval Due to the College/Vice Chancellor Offices for Review	December 6, 2021
UIS - Department Submission & Approval Due to the AVP Business Services for Review	January 7, 2022
System - Department Submission & Approval Due to the Director for Controller Operations for Review	January 7, 2022
UIUC- College Cumulative Submission & Approval Due to the Office of the Provost for Review	January 14, 2022
UIC - College/Vice Chancellor Memos Due to the Vice Chancellor Budget, HR & Financial Administration for Review	January 14, 2022
University & System Office Letters Due to CFO, Controller, & Executive Director of University Audits for Review	February 23, 2022
System Office Reviews	March 7, 2022
University of Illinois System FCIAA Letters Due to President	April 1, 2022
Meeting with President to Discuss/Finalize FCIAA Process	Mid-April, 2022
Final Certification Letter with President's Signature Due to Illinois Auditor General	May 1, 2022

 

For questions contact the UAFR FCIAA group.  

 

Last Updated: October 25, 2021