Ledger Reconciliation & Storage System
Introduction & Background
UCR's Ledger Reconciliation and Storage System (LRSS) is a tool that electronically records and demonstrates that campus departments and units have appropriately reconciled financial ledgers. The LRSS also facilitates the reconciliation process by permitting departments and units to store reconciled ledgers electronically on secure campus servers.
The Ledger Reconciliation and Storage System was developed in response to SAS 112 auditing requirements (please see below). The LRSS requires two electronic certifications: the first is provided by a Reconciler, certifying that the ledger has been reconciled; the second is provided by a Certifier, confirming the reconciliation has been appropriately completed.
SAS 112 - Statement of Auditing Standards
The Statement of Auditing Standards (SAS 112 ) provides guidance (and establishes standards) to auditors relating to communicating findings concerning internal controls and their impact on financial reporting.
SAS 112 requires UCR to identify key internal controls and then consistently document that these controls are operational. SAS 112 applies to UCR financial statements (ledgers) beginning with the 2007 fiscal year. In FY2007, the several departmental controls
were identified to assist campus users in meeting our financial reporting
needs; please refer to the following document for additional information:
SAS 112 Departmental Controls