Internal Audits, Temple University

Frequently Asked Questions (FAQs)

1. What are internal controls?

Internal controls are methods and policies designed to prevent fraud, minimize errors, promote operating efficiency, and achieve compliance with established policies.

2. How can Internal Audits help me?

Internal Audits can help you to:

identify operational opportunities for cost savings/revenue enhancements,

evaluate your current and new information systems,

identify potential improvements in workflow and increase productivity,

protect University resources, and

determine and meet your customer's needs.

3. Why should I call Internal Audits?

Call Internal Audits if:

your area is undergoing a reorganization or restructuring,

you need advice on account reconciliations or procedural issues,

you suspect a theft or other types of fraud, waste or abuse. (refer to step 5)

you want an objective review of your operation,

you are developing a new systems and/or procedures and need advice on the proper controls required to manage your area, or

you want to know if the resources in your department are properly protected.

4. What is the difference between an audit and a consultation?

Audits are initiated by Internal Audits with input from the President and senior management of the University. We identify audit areas in a audit cycle plan approved by the University President. Audit results are reported to the auditee, the Management Audit Committee, the University President and the Audit Committee of the Board of Trustees. Consultations can be requested by any University administrator. The results are reported only to the administrator requesting the consultation.

5. If I become aware of fraud, do I need to contact Internal Audits?

Yes, contact James Bausman, Director of Internal Audits

at (215) 926-2080 or use the Anonymous Contact Form.

6. What is the Developed Solutions Status (DSS) form?

Internal Audits uses the DSS form as a tool to perform follow up audits. The form includes any outstanding issues/corrective actions that were identified and not implemented during the course of the audit. A question is asked for each outstanding issue to determine if corrective actions/solutions have been implemented. The DSS form is distributed to the appropriate department head and/or dean.

7. What happens if the action plans are not completed by the target date
provided by management?

Internal Audits performs follow-up reviews approximately 30 days to five months after the completion of an audit. Internal Audits is required to advise the President and Audit Committee of the Board of Trustees, via our quarterly follow-up reports, of any areas that have not implemented the agreed upon corrective actions/solutions.