Business Office

Risk Management and Payment Card Industry Compliance

Risk Management

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.

Payment Card Industry (PCI) Compliance

The ability to conduct credit card transactions has become a necessity for increased customer service, particularly with the increase in e-commerce. Christopher Newport University recognizes that use of credit cards may stimulate sales in certain types of transactions and may increase the cash collections efficiency. The need to protect our customers’ credit cards data is essential. CNU's PCI compliance guidance provides university departments with essential information regarding the requirements and best practices for payment card related activities.

If you have any questions related to ARMICS or internal controls at CNU, contact Peggy Taylor, business office accountant, at (757) 594–8137 or via email at peggy.taylor@cnu.edu.

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