Internal Audit conducts operational, compliance, and financial-related audits and investigations for the University of Kansas in accordance with the International Professional Practices Framework promulgated by the Institute of Internal Auditors. Our reporting relationships to the Chancellor, the Kansas Board of Regents, and the University's chief financial officer help ensure independence and objectivity in the performance of our work. We further assist University departments and other units by providing training and consultation on good business and internal control practices.
Different Types of Audits we Do
Address questions of accounting, recording, and reporting of financial transactions, as well as reviewing the adequacy of internal controls.
Determine if departments adhere to federal, state, and university rules, regulations, policies, and procedures.
Examine the use of department/university resources to evaluate whether those resources are utilized in the most efficient and effective way to fulfill the department's/university's mission and objectives. An operational audit may include elements of a compliance audit, a financial audit, and an information systems audit.
Combine a financial/controls audit of an area with an information technology assessment of the systems and infrastructure that support the unit. An integrated audit can assess the effectiveness of the coordination between the information systems and the business activities to support defined goals and objectives.
Performed when appropriate. These audit activities focus on alleged violations of federal and state laws and of university policies and regulations. Internal theft, misuse of university assets, hotline allegations, and conflicts of interest are examples of investigative audits.
Internal Audit provides assurance on significant financial, IT security, compliance, and operational risks to individuals transitioning into key leadership positions within the university and its controlled affiliated corporations.
Internal Audit maintains a database of all observations and recommendations generated from its audits. After a reasonable period, we request a status report from the audit client regarding corrective actions taken to date. We evaluate the effectiveness of these corrective actions and perform follow-up and validation testing procedures to determine if revised processes and controls are operating effectively.