Rules of the Assembly
Rule VII -- Guidelines for a System of Internal Controls
Section 1. Internal Controls. Pursuant to Article six of the Legisla- tive Law as enacted by the New York State Governmental Accountability, Audit and Internal Control Act of 1999, the following guidelines for a System of Internal Controls are hereby established.
- All financial transactions shall be executed in accordance with the general or specific authorization of the Speaker or his or her designated representative.
- All financial transactions shall be recorded in conformity with generally accepted accounting principles or other applicable criteria in a manner to maintain accountability for assets.
- Access to assets shall be permitted only in accordance with the authorization of the Speaker or his or her designated representative.
- The recorded accountability for assets shall be compared with the existing assets at reasonable intervals and appropriate action shall be taken with respect to any differences.
- The System of Internal Controls shall provide reasonable assurance that the foregoing are accomplished.