What is the actual engagement process?
1. The engagement is announced through an engagement letter.
This letter is sent to your department and describes the general objectives, the projected time frame, and the information your department may need to supply.
2. An entrance conference is scheduled.
The director and auditor in charge meet with your department head to discuss the department or system to be reviewed, its organization, available resources, and other pertinent information. You are encouraged to present questions or concerns.
3. A preliminary survey is performed.
The auditor becomes familiar with the department's operations by talking to key personnel and reviewing various sources of written documentation.
4. Fieldwork is conducted.
This phase includes testing internal controls and performing other procedures necessary to accomplish the objectives of the engagement.
5. Draft report is prepared.
The draft report along with any reportable and non-reportable conditions is sent to the department via email.
6. An exit conference is scheduled.
The director and auditor in charge meet with your department to discuss the draft audit report. You will be given the opportunity to comment and suggest changes. We will work together to reach an agreement on its content.
7. Your department submits your final responses to the audit finding and recommendations.
You will have two weeks to send an official response to each of the audit observations and recommendations.
8. The final report is issued.
The final report includes your responses and is sent to your department, senior level management, the Board of Trustees, and the Chancellor.
9. Post audit comments.
As part of our evaluation program, we ask you to comment on our performance. This feedback will be used to improve our procedures.
Click here to access the Exit Questionnaire
10. Follow up review.
A follow up review is performed approximately nine months after the final report is issued to verify the resolution of the observations.
A final note:
The audit process works best when we have a shared working relationship. We hope you will extend this relationship beyond a particular audit. Through the audit process, we develop an understanding of your operation and are available to consult on organizational or operational changes.
