Audit Scope and Objectives

The scope and objectives for every audit are determined through discussion with the department's management and a department specific risk assessment. While each audit is unique, there are some general or common objectives applied to most audits. Some of the common objectives are:

  • Review activity for the most recent twelve-month period
  • Determine if revenues appear reasonable, are properly controlled and appropriately recorded
  • Review discretionary, self-supporting, restricted and agency account expenditures and determine if they are valid, reasonable and in compliance with University policies and donor restrictions
  • Determine if gifts are forwarded to Philanthropic and Alumni Engagement
  • Review sponsored project account expenditures and determine if they are in compliance with University policies, grant agreements and Federal regulations, if applicable
  • Review procedures for the use of and control over the Vincent payment system for research participant payments
  • Access the adequacy and effectiveness of internal controls over payroll processingReview travel and business expenditures for compliance with University policies and procedures
  • Review selected P-Card transactions for compliance with University policies and review procedures for reconciling and monitoring P-Card statements
  • Review Conflict of Interest procedures to ensure that adequate controls are in place to properly monitor any disclosed outside interests
  • Review controls over the IT environment, including physical security and policies and procedures
  • Assess the adequacy of controls to protect the security and confidentiality of sensitive data and compliance with regulations such as Gramm-Leach-Bliley, HIPAA, FERPA, etc.