Subcertifications

The March 31, 2004 memo to Audit Committee members of the DU Board of Trustees describes the subcertification implementation process in more detail.

"Every fiscal year the CEO, CFO and Controller provide an eleven-page, 59-point Representation Letter (see attached) to the University’s outside auditors certifying the University’s responsibility for: the fair presentation of the financial statements, disclosures of material liabilities and contingencies, and compliance with laws and regulations, etc.w

Similarly, in the draft policy on Corporate Governance and Responsibility, Section II.B.3, these same three individuals are directed to “certify the accuracy and completeness of the University’s annual financial statements”. Furthermore, the policy instructs the budget managers of decentralized units to provide “sub-certification” assuring the integrity of the underlying financial transactions, non-financial activities and adherence to internal controls within their responsibility.

Click here for additional policy information

Click here for the Subcertification Form (.doc)