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.
- 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.
- 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.
- 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.
Sincerely,
Gregory L. Geoffroy
President
