Audit Cycle Synopsis

The following steps are followed in most audits conducted:

  • Selection of Unit to be Audited Based on:
    • Input from president, vice presidents, business officers and other University management level personnel.
    • Level of Risk: Volume of activity, stability of management/staff, last time audited, public relations exposure, external regulatory requirements.
  • Notification to Audit Client through Vice President – Allows for input into the audit process by the vice president or other appropriate intermediaries.
  • Entrance Conference – Scope/objectives and purpose of audit are explained. Allows for audit client input into the audit process.
  • Field Work – Auditor performs work.  Findings/recommendations are shared with audit client as audit progresses.
  • Work Paper Review – Director or audit manager reviews work papers and interacts with audit client and University management as audit progresses.
  • Draft Report – Sent to audit client via email for review and discussion at the Exit Conference.
  • Exit Conference – Contents of draft report discussed and agreement reached on any necessary changes. Also provides an opportunity to discuss the format for the response.
  • Audit Client’s Written Response – Via the draft report.
  • Final Report – Email and hard copy sent to audit client with their response incorporated. Email copies sent to appropriate intermediaries.
  • Follow-Up Memo – After two months, a follow-up memo may be sent to request an update on any outstanding recommendations. 
  • Follow-up Audit/Review – Within 12 months, the implemented recommendations may be reviewed for their effectiveness.
Text Only Options

Top of page

Text Only Options

Open the original version of this page.

Usablenet Assistive is a UsableNet product. Usablenet Assistive Main Page.