Types of Audits

 

• Financial - Reviewing financial transactions, records and reports for accuracy, completeness, and authorization.

• Operational - Evaluating operating procedures and internal control structures to determine if objectives are achieved effectively and efficiently and resources are adequately safeguarded.

• Compliance - Determining whether University policies and procedures, State and Federal laws, grant regulations, and contractual policies are being followed.

• Special Projects - Examining a specific issue or area as requested by management.

• Loss and Fraud Investigations - Investigating the existence and magnitude of suspected losses or other irregularities.

• Consulting - Addressing a variety of issues concerning policies, procedures, and internal controls as questions arise.

Most audits performed by the Office of the Internal Auditor are a combination of financial, operational and compliance auditing.