Internal Audit

Audits / Assurance Services

Audits and assurance engagements include planned reviews of compliance, operations, information technology, finance, and internal controls. They also include integrated audits which incorporate more than one of those categories in a single engagement. Audits are typically included on our office's annual audit plan (work plan), and they result in a formal audit report that includes an overall opinion of the area under review and any findings and recommendations that were identified.

Administrative Reviews

Administrative reviews begin with a risk assessment to determine the most important issues to the area based on risk and management's requests. Administrative reviews often include assessments of items such as:

  • Financial processes and transactions
  • Cash handling
  • Fixed assets and computer inventory management
  • Payroll and personnel
  • Policies
  • General controls and access rights
  • Academic areas including admission procedures and the awarding of scholarships
  • Tax issues including unrelated business income tax, sales tax, and fringe benefits
  • Governance structure and communication

Compliance Reviews

During a compliance review, operations are compared to external regulations such as those of a Federal, State, or accrediting agency. Our recommendations are intended to help management fully comply with the established regulations.

Information System Reviews

Information system reviews include many different topics such as:

  • System, software, and document access
  • Document storage and retention
  • Credit card compliance
  • Business continuity and disaster recovery planning
  • Online presence
  • Physical security of computer assets