ARMICS stands for Agency Risk Management and Internal Control Standards.
It is a directive originally issued in November 2006 by the Comptroller of Virginia. It applies to all state agencies and institutions within the Commonwealth. The purpose of ARMICS is to implement internal control standards and "best practices" that directly support the Commonwealth's vision and long term objectives. This directive has since become part of the Commonwealth Accounting Policies and Procedures (CAPP) Manual and is here to stay!
ARMICS is an ongoing process to design and provide reasonable assurance that CNU has:
- Effective and efficient operations.
- Reliable financial reporting.
- Compliance with applicable laws and regulations.
- Assurance that safety measures are in place to safeguard all assets.
In summary, the objective of ARMICS is to make certain that fiscal accountability is in place and regularly reviewed at CNU and that all the Commonwealth's assets are vigilantly protected!
Please feel free to visit the following related websites for more information:
- Virginia Department of Accounts: ARMICS
- CAPP Topic: Internal Control
- CNU Code of Business Conduct and Ethics
If you have any questions related to ARMICS or internal controls at CNU contact Stella Parker, Business Office Accountant, at 757-594-8137 or stella.parker@cnu.edu.
