Most audits performed by the Internal Auditing Department are a combination of operational, financial and compliance auditing
Operational audits, also known as performance or management audits are aimed at assessing an operation's effectiveness. An operational audit measures and evaluates administrative control against standards set by management including long range plans, budgets, and operating policies and procedures. Although financial data continues to be the base of reference, we look beyond the figures to provide assistance toward improving operations.
These audits are designed to validate the accuracy, completeness and authorization of financial transactions, records, and account balances of the audited area. These audits also include analyses of internal controls of the area and system being audited.
These audits are designed to review and evaluate compliance with the institution’s policies and procedures as well as any other applicable external rules, regulations and laws. This would include Federal and State entities.
Information Technology (IT) Audits:
IT audits are designed to address the internal control environment of automated information processing systems and how people use those systems. IT audits typically evaluate system input, output, and processing controls; backup and recovery plans; system security; and computing facilities. These audits consist of specific IT audit techniques to ensure the adequacy and reliability of controls and to ensure the integrity of data processing.
These audits are done to investigate incidents of possible fraud or misappropriation of University funds and/or assets. These types of audits often call for the coordination of effort with department/division heads from the area where the incident may have occurred, Finance & Administration, Provost, the Office of General Counsel and law enforcement.