Last Updated: December 19, 2012

The following will answer some of the questions frequently asked regarding the audit process.

Who does audit report to? How often are the departments reviewed? What is audit planning? Why are departments always under audit? How long do audits take? Who gets audit reports? What should I expect during an audit? What can I do to facilitate the audit process?

Who does audit report to?
UNDER CONSTRUCTION

How often are the departments reviewed?
It depends on the results of the risk analysis performed and the corresponding priority ranking for each auditable unit. Based on the audit resources available, the annual audit schedule is defined and reviewed by executive management. The audit plan is then submitted to the Board of Regents Internal Audit Office and approved by the Board of Regents.

What is audit planning?
UNDER CONSTRUCTION

Why are departments always under audit?
What may be interpreted as being under audit may not be the case. Auditors may be in departments to gather information, as part of another department’s audit, to follow-up on outstanding issues, or to perform a special review requested of management. Keep in mind that many university activities interrelate with other department activities and frequently the audit scope crosses departmental or divisional lines.

How long do audits take?
It depends on the depth and scope of the engagement. Generally speaking, full-scope audits will take between one to two months.

Who gets audit reports?
Audit reports are distributed to the applicable department head, applicable executive management, the Associate Vice Chancellor for Internal Audit at Board of Regents Internal Audit Office, and the State of Georgia Auditors.

What should I expect during an audit?

• An Opening Conference will be held to officially start the audit. The purpose is to explain the audit process, gather information, finalize the scope and objectives, and establish a cooperative working relationship with management.
• In the fieldwork phase, the auditors gain an understanding of operations under review, assess the internal control structure, and perform detailed testing to verify compliance with policies and/or regulatory compliance standards.
• Communication involves discussing the draft audit findings with management to obtain clarification. The draft report is presented for management’s review and comment prior to publication.
• Active discussion and interaction with management prior to issuing the final report is standard protocol.
• A Closing Conference signals the official end of the audit. The audit comments and recommendations are again reviewed. The final report, including management responses, serves as the final product of the audit process.

What can I do to facilitate the audit process?
Be honest and open; understand that University Auditing and Advisory Services does serve to assist management. Participate in the planning process and discussions. Identify key contact personnel. Share information to assist auditors in performing an efficient review thereby minimizing disruptions in operations. Voice your opinions regarding areas of weakness, issues of concern, or suggestions for improvement.

Auditing is a partnership with the management at Georgia State University in the fulfillment of institutional objectives.