Whats wrong with a locally maintained accounting system?
There is a risk that information from a locally maintained accounting system (which may be based on an accounting software package, an Excel spreadsheet, an Access database, or a manual ledger/journal/register) may not be properly entered in the University’s systems (AMS, HRIS, ROSI, etc.) and could, therefore, lack the appropriate disclosure, approval, review and reconciliation. In addition, where information is entered in both systems there is a duplication of effort.
