INTERNAL AUDIT DEPARTMENT

INTERNAL AUDIT DEPARTMENT Issued December 2002 Revised February 2005 TABLE OF CONTENTS 100 GENERAL 110 Mission page 3 120 Goal 3 130 Authority 3 140 Standards for Internal Auditing page 4 150 Code of Ethics page 4 160 Independence and Objectivity pages 4-5 170 Types of Audits Conducted pages 5-6 180 Department Organization page 6 190 Reporting Structure page 6 200 ANNUAL AUDIT PLAN 210 Development Process 7 220 Approval Process 230 Changes to Annual Audit Plan pages 7-8 300 AUDIT PROCESS 310 Planning page 8 320 Entrance Conference page 330 Audit Fieldwork page 9 340 Audit Findings350 Draft Report and Exit Conference pages 9-10 360 Final Report 10 370 Audit Report Distribution page 380 Follow-up Review page 11 390 Board of Trustee Notification Process page 400 Audit Report Standards 410 Format page 12 420 Issuance and Distribution Process pages 12-13 500 Audit Workpaper Standards 510 Content pages 13-14 520 Preparation page 14 530 Review 600 Time Records 610 Weekly Time Sheets page 15 2Section 100: GENERAL 110: Mission The Internal Audit Department’s mission is to independently examine and evaluate University activities as a service to the President and the Board of Trustees. Internal Audit’s objectives are to provide ...