What’s in an Audit Plan?
Internal Audit uses an audit risk analysis methodology that encompasses all major University operations. The risk analysis methodology is based on objective and subjective criteria, combined with input from University management. This methodology allows us to identify and prioritize systems and operations for audit review.
In addition to our annual commitments, we perform the following types of services for the University:
- Computer-Assisted Audit Techniques
- Contract Compliance Audits
- Construction Cost Audits
- Departmental Surveys
- Financial Statement Audits
- Follow-Up Reviews
- Information Technology Audits
- Integrated Audits
- Management and Special Requests
- Operational Audits
- Service Center Reviews
Computer-Assisted Audit Techniques
Contract Compliance Audits
Construction Cost Audits
Assist management in determining whether the costs reported by the General Contractor represent actual costs incurred in accordance with the terms and conditions of the construction contract. Also, provide an advisory function for financial aspects of the project.
Assess the adequacy and effectiveness of the accounting and administrative controls by obtaining an understanding of the financial, organizational, regulatory, and information technology activities of the department.
Financial Statement Audits
A post-audit follow-up to assess the progress of the department in implementing changes or strengthening controls, and to further lend our services in meeting their goals and making additional recommendations.
Information Technology Audits
Includes participation in systems development projects and committees, pre- and post-implementation reviews for application systems, operational integrity reviews, systems evaluations, consultation, and programming across the University’s information systems environment.
A combined effort of the financial/operational auditors and the information technology auditors to assess the adequacy and effectiveness of internal controls and the efficiency of the information technology being utilized.
Management and Special Requests
Service Center Reviews
Ascertain compliance with OMB Circular A-21 and University policy. Ensure that rates charged by service centers do not discriminate between federal sponsors and other users, and that rates are properly established.