Audit Process

There are Five Phases in our Audit Process:

Internal Audit conducts a University-wide risk assessment near the end of each calendar year.  We develop the audit plan for the subsequent year based on the results of this assessment and the department’s available resources.  The Chancellor and the Fiscal Affairs and Audit Committee of the Kansas Board of Regents review the audit plan before it is executed.

During the planning phase of each project, the Internal Audit staff gather relevant background information and initiate contact with the client.  Auditors meet with University leadership and clients to identify risks and determine the objectives and scope of the audit as well as the timing of fieldwork and the report distribution.

Once the audit is planned, fieldwork is executed by the Internal Audit staff.  Clients are kept informed of the audit process through regular status meetings.  We discuss audit observations, potential findings, and recommendations with the client as they are identified.

A summary of the audit findings, conclusions, and specific recommendations are officially communicated to the client through a draft report.  Clients have the opportunity to respond to the report and submit an action plan and time frame.  These responses become part of the final report which is distributed to the appropriate level of administration.

Internal Audit follows up on all audit findings within one year of when the report was issued.