Audits

Types of Audits

Types of Audits-

Financial – Reviews of the financial records of an organization to test their accuracy and completeness.
Operational – Reviews that suggest future improvements to help meet business objectives and program goals.
Information Technology (IT)- Reviews of information systems for security and data integrity.
Compliance – Reviews to assess an organization’s compliance with applicable policies, regulations, and laws.

How does AMAS decide what to audit?

On an annual basis, AMAS prepares an Audit Plan identifying the audits and advisory services to be performed during the upcoming fiscal year. The risk based Audit Plan is developed through a combination of interviews with senior and executive management, a survey of managers and administrative personnel, AMAS consideration of other internal and external factors, and a risk ranking of all potential audit topics. The highest ranking topics are included on the audit plan which must be approved by the Audit Committee. Audits can also be added to the plan by management request or a mandate from Office of the President.

Audits are defined as examinations of evidence for the purpose of providing an independent assessment on governance, risk management, and control processes for the organization.

Audit and Management Advisory Services (AMAS) is responsible for evaluating the internal controls environment for financial transactions, operational activities, compliance objectives and information technology infrastructure. Our engagements include reviews of specific business units or specialized activities as well as reviews for key business processes spanning multiple stakeholder entities and University-wide activities. Our goal is to provide objective, valuable and respected service to each of our clients by identifying and communicating opportunities to increase business process efficiency and strengthen the internal control environment.

If you would like to request an audit or advisory service please use our engagement request form.