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The Audit Process

Audits are performed in three general phases: planning, fieldwork, and reporting.  While auditors usually notify the appropriate level of university management as to the timing, staffing, and scope of engagements included in the annual audit plan, the performance of certain procedures (e.g., cash or inventory counts) or certain engagements (e.g., fraud investigations) may be unannounced.

Audit reports are addressed to the president of the university.  Copies of final reports are normally sent to the executive to whom the individual responsible for the audited area reports and the Audit Committee of the Board of Trustees.  Depending on the subject matter of the report, other individuals may also receive the report.

As required by standards set forth by The Institute of Internal Auditors, our office has instituted a continuous quality control program that includes self-assessments, performance measures, staff evaluations, and external quality assessments conducted by experienced higher education audit professionals.