糖心少女

Audit Process and Types

The Audit Process

• Planning and Entrance Meeting

  During planning, the auditor gathers background information about the audit topic, determines the audit objectives and methodology, and develops an audit program. This program outlines the procedures for identifying areas to examine, questions to ask, and documents to review.

  At the entrance meeting, the auditor discusses the audit objectives, scope, timeline, resources needed, and how results will be communicated with the auditee.

• Fieldwork and Status Meeting

  The evaluation phase, or fieldwork, involves the auditor assessing internal controls and compliance by interviewing key personnel, reviewing departmental records and processes, and testing a sample of transactions.

  Throughout fieldwork, the auditor holds status meetings with the auditee to address initial observations and document requests, allowing for clarification and additional documentation.

• Post-Fieldwork and Exit Meeting

  After fieldwork, the auditor drafts a report with observations and corresponding recommendations, then shares it with the auditee for discussion at the exit meeting.

  During the exit meeting, the auditee can propose changes, which are then incorporated into the draft report. The auditor also requests written responses to the recommendations.

• Audit Report and Follow-up

  The auditor issues the final report to the auditee and campus management, and posts it on the audit website if applicable.

  Typically, the auditor follows up with the auditee to ensure recommendations and corrective actions are effectively implemented and results are achieved.

Types of Audits and Reviews

• Compliance
  This audit evaluates whether the university and its affiliates comply with applicable laws, regulations, and policies, including federal and state laws, Trustee policies, Chancellor's Office directives, and university procedures.
• Consulting
  This review, requested by campus management, provides a proactive, independent assessment of identified concerns or process improvements. The auditor maintains independence by not assuming management responsibilities.
• Financial
  This audit evaulates the fairness, accuracy, and reliability of financial transaction accounting and reporting. 糖心少女's external financial auditors, KPMG, perform this audit in coordination with Business & Financial Services.
• Investigation
  This review investigates allegations of fraud, waste, abuse, or improper activities to determine their validity and prevent future occurrences.
• Operational
  This audit evaluates an organization鈥檚 internal control systems, operations, and processes to assess their efficiency, effectiveness, and ability to manage operational risks. It may include elements of financial review and compliance to ensure key functions, such as cash handling, procurement, HR/payroll, and asset management, operate as intended and support continuous improvement.