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Inside Iowa State, a newspaper for faculty and staff, is published by the Office of University Relations.

August 26, 2005

ISU adopts changes for financial reporting

To the faculty and staff of Iowa State University:

Effective Aug. 26, Iowa State University is adopting three "best practices" stemming from the Sarbanes-Oxley Act of 2002. They are: (1) the certification of financial statements (2) a Code of Business and Fiduciary Conduct and (3) the ISU Confidential Hotline. These practices are being adopted to show Iowa State's strong commitment to ethical conduct, as well as to provide guidance and accountability in all aspects of our operations.

  1. Certification of financial statements. Key people in the financial reporting process and those who are involved in preparing financial statements will provide written certification that the information reported is free of material misstatement. This best practice constitutes a minor, yet important, addition to existing practice at ISU.
  2. Code of Business and Fiduciary Conduct. This code is a policy of the Board of Regents, State of Iowa. It is a formal statement of existing expectations regarding ethical behavior. The ISU Policy Library includes an introductory letter, a link to the Code, and a listing of key university policies that support the Code. See Policy Library News.
  3. ISU Confidential Hotline. All regent institutions have contracted with the EthicsPoint Reporting Service to accept, via telephone or Internet, confidential and anonymous reports from employees about issues of concern. Each university will have its own customized hotline Web page hosted by EthicsPoint. The ISU Confidential Hotline provides a convenient and confidential method for reporting concerns, in addition to the methods that always have existed and remain available, such as telephoning a university official or department. Hotline reporters will have the option to remain anonymous and will be given a secure sign-on so they can return to the hotline site to answer questions, if needed. Designated administrators at each institution will receive, examine and seek to verify or repudiate hotline reports. (The Research Compliance Hotline will be discontinued. Anyone with concerns about research compliance and ethics should contact the ISU Confidential Hotline.)

    I appreciate your cooperation and participation as we move forward with these changes. My thanks to everyone who contributes to our efforts to achieve excellence in all we do at Iowa State University.


    Gregory L. Geoffroy