The definitive source for internal control in the Commonwealth of Virginia is the Agency Risk Management and Internal Control Standards (ARMICS). The initial implementation of ARMICS was required through State Comptroller directives. Beginning with fiscal year 2010, the Commonwealth Accounting Policies and Procedures (CAPP) Manual was updated to incorporate the internal control requirements for ARMICS.
ARMICS applies to all state agencies and institutions in the Commonwealth of Virginia. The purpose of ARMICS is to implement internal control standards and "best practices" that directly support the Commonwealth's vision and long term objectives.
ARMICS is an ongoing process to design and provide reasonable assurance that Radford University has:
The objective of ARMICS is to make certain that fiscal accountability is in place and regularly reviewed at Radford University and that all the university's assets are vigilantly protected. ARMICS reviews are conducted for significant fiscal processes of the university as deemed necessary based on risk.
If you have any questions related to ARMICS or internal control standards at Radford University, contact Carla Linkous, Asst. Controller of Accounting Operations and Disbursements, at 540-831-6651 or clinkous7@radford.edu.