Types of Audits and Services

Operational Audits

These audits are performed to determine whether specific areas units are accomplishing operational goals, safeguarding assets, complying with policies, procedures, laws and regulations. Operating procedures and internal controls are reviewed.

Information System Audits

These audits are a technical review of the information systems environment to evaluate the integrity, security and utility of the information systems. The purpose of these audits is to ascertain that the data is reliable, that programs are accurately processed, that personnel are adhering to established policies and procedures, and that adequate backup and other procedures are sufficient to prevent catastrophic data loss or incorrect modification of data.

Surprise Cash Count Audits

Internal Audits performs surprise cash counts of Bursar's Office cashiers and local cash funds throughout the University.

Software License Audits

These audits are performed to help ensure that the University is in compliance with software management and licensing guidelines.

Spot Checks

Spot check reviews are performed on a cyclical basis for various areas.

Some examples include Purchasing Card, Accounts Payable, Travel & Expense, Precious Metals, Capital Equipment, Student Payroll, Cash Handling, and Fuel Card.

Follow Up Audits

After the completion of an audit, Internal Audits performs a follow up audit to determine that the agreed upon solutions and corrective actions have been implemented and are working effectively. Internal Audits is required to provide the President and the Management Audit Committee members with a quarterly report indicating the follow up audits that have been performed where solutions and corrective actions have been implemented, the areas that have not yet implemented the required solutions and corrective actions, and the areas that are scheduled to have follow up audits performed in the upcoming six months.

Consultations

Any University administrator can request a consultation. The following are the basic guidelines for consultations by Internal Audits:

1. Internal Audits will only go where we are invited,
2. Internal Audits will only report to those who invited us provided no illegal activity is identified, and
3. Internal Audits must limit consultation hours to the number approved on the University's Audit Cycle Plan.

Special Projects

Throughout the year, Internal Audits may be engaged in miscellaneous special projects to gather information, perform unscheduled audits or reviews, or to address internal control related issues. The President, the Executive Vice President for Finance and Administration, and the Director of Internal Audits have the authority to initiate the performance of a special project by Internal Audits.

Investigations

These audits are done to investigate incidents of possible fraud or misappropriation of University assets.

Systems Development Life Cycle Participation

Internal Audits participates in the software development process to help ensure that the IT project is completed on time and within budget, that appropriate system and internal controls are in place, that adequate project management procedures are in place, and that the new system satisfies the design requirements that were established.

Various Steering Committee and Project Team Participation

Members of Internal Audits participate on various committees to provide input on relevant controls and to gain an understanding of key University activities