E8.204 University Audit Plan

Prepared by V.P. for AdministrationUNIVERSITY OF HAWAI‘IEXECUTIVE POLICY - ADMINISTRATION June 1980P 1 of 6E8.204 University Audit PlanI. PURPOSE The Board of Regents and the President of the University areresponsible for the proper and effective operation of the University,and through the Vice-Presidents and Chancellors, of the severalconstituent units which make up the University. To assist the Board ofRegents, the President, Vice-Presidents, and the Chancellors in carryingout their responsibilities, periodic audits and reviews shall beconducted of the organization, management controls, and internalaccounting controls by qualified professional staff of external and/orinternal auditors, consultants, and specialists, procured or assigned,and directed by the President or his designee.This policy establishes a broad framework under which such auditsand reviews shall be procured, assigned, and conducted.II. REFERENCES The Board of Regents has created and assigned to an Ad Hoc Committee within its Standing Committee on Finance the responsibilityfor exercising general oversight and policy direction for the externalaudit program. Specifically, the major functions of the Committee are:1. To review and approve an annual external audit plan prepared bythe University of Hawai‘i staff which would specify theobjectives, types of audits, and programs to be audited for theyear.2. To review the major findings and recommendations of the ...