Why are we being audited?

We have both long range and short range schedules of audits. Most likely your department was routinely selected based on existing audit plans.

Our schedule is flexible and takes into account:

Requests from the Board of Regents or Board of Trustees
Requests from Vice-Presidents and Key administrators
A risk assessment process that evaluates departments based on the resources under their control and the degree of change the department has experienced in recent years
The Internal Audit Department's knowledge of existing operations, internal controls, and changes that are planned or in progress for various financial systems and operational procedures
Training and expertise of Internal Audit Staff
Resources available to the Internal Audit Department