Frequently Asked Questions

Internal Audit's scheduling process begins with requests for audit services. Several sources affect the scheduling process. One source is Internal Audit Department itself. The in-depth knowledge of the University gives us a unique perspective on the types of projects in which we can reduce the University's risk.

Management is another source of requests. These originate from management's requests for assistance concerning the administration of a specific area.

Several factors influence the selecting and scheduling of audit services which include: the degree of risk or exposure to loss, type of audit, current and planned work in other major audit projects, and the availability of internal audit staff.

It will depend on the scope of an audit. An audit can last from one or two days to several months. The auditor(s) assigned to your area will give you a reasonable estimate the time they need to complete the audit, after the planning phase is finished. Your timely response to audit requests will support timely completion of the audit.

Cooperation and communication is important to perform a successful audit.

The following include specific examples of how your active involvement will enhance the audit process and the resulting product:

• Supply requested information regarding financial, operational, and information system documentation by requested dates.
• Share your concerns about internal control weaknesses.
• Request audit review and/or assessment of issues troubling to management.
• Review the engagement letter and audit work plan, and where appropriate suggest revisions.
• Ask questions if you don't understand why certain activities have been included, or excluded.
• Review the preliminary test results and begin thinking about possible corrective actions.
• Review the draft report and make suggestions for any changes or enhancements before, or during, the exit conference.
• Offer solutions to the issues addressed and project realistic time frames for completion of the management plan.
• Be proactive in monitoring and reporting the status of corrective actions.

An audit may affect the department's routine to some extent. We are always trying to not interrupt your normal work to the extent possible.

No. Internal Audit services are at no cost to departments.

First you will be notified in writing when your department is selected for an audit. The letter will state the objectives to be accomplished in the audit. Subsequently, the Internal Audit Department will contact you to schedule a meeting to discuss the scope of the audit and the logistics of conducting the audit. At this initial meeting, you should take the opportunity to discuss any concerns or questions you may have about the audit, and to determine how you can facilitate the review process. A typical audit has several stages, including preliminary research, data collection and analysis, review, report writing and distribution, and follow-up.