What to Expect if Audited
Opening Conference
The audit will begin with an initial meeting between the auditors and management from all interested offices/units as well as the fiscal representative of the vice presidents'/provost's office The opening conference provides a forum for discussion of the audit process, the scope of the audit, and estimated completion date. It also provides an opportunity for management to make known any concerns they have to the auditors.
Some of the common audit questions asked at the opening meetings.
Audit Fieldwork
The first step of the actual audit consists of interviews with managers and staff, and a review of documents and data to gain a better understanding of the unit's operations. Transactions and records are then tested to determine if controls are operating as intended.
We realize each person's time is valuable, so we attempt to arrange meetings in advance and to work around scheduling conflicts.
Drafting of Audit Report/Report Review Process
After all fieldwork is completed, a draft report is prepared by the auditor. The report documents our objectives, procedures performed, our conclusions as to the adequacy of controls, and specific observations and recommendations for improvement if necessary. The draft is thoroughly reviewed within internal audit before it is presented to the unit's management in draft form. This draft form is prepared for the unit's operating management and gives them a chance to edit any misstatements or suggest improvements. After the observations and audit results are correctly stated, the unit's management has a chance to insert written responses into the draft which address the corrective action that will be taken to implement the recommendation.
Submission of Final Report
Once the unit's management has entered its responses, the draft is submitted up the chain of command, allowing for any further edits/suggestions for improvement. The final copy of the report is presented to the Vice President for Administration & Finance. Once she has approved the report for distribution, the individuals copied on the report title page receive a final copy.
The audit reports are shared with the Office of the Auditor General and Arizona Board of Regents audit staff and presented to the ABOR Audit Committee at their quarterly meetings.
Contact Info
P.O. Box 4115
Flagstaff, AZ 86011
928-523-6448
928-523-6459
928-523-0721