Internal Audit Process Flow Chart

Auditor conducts

planning phase

including Audit

Manager/AD in

planning meetings/

discussions

Entrance Conference held

with Client,

Auditor, Audit Manager/AD

and Director

Audit Manager/AD

sends

engagement email

to the audit client

making them

aware of the audit.

Make sure to cc:

Director and

Auditor and VP of

area under review

Auditor develops

audit objectives

and test steps

based on RAM

and reviews with

the Audit

Manager /AD

Auditor moves forward

with audit work and

discusses testing

methodology, attributes,

etc. with manager.

.

Comment sheets are

prepared for each issue

identified in the audit

Comments reviewed and

discussed with Audit

Manager/AD prior to

presentation to client.

Sensitive/serious issues

escalated to Director

Final draft of report is reviewed during

a meeting with Audit Manager/AD and

Director. If Director chooses not to

meet, it’s important to allow ample time

for report review prior to the exit

conference.

Exit Conference with client,

Auditor, Audit Manager/AD

and Director.

Audit Manager/AD performs final

review of work papers and report, then

edits report as appropriate. Under no

circumstances should the report move

past this point unless the work paper

review is complete and notes are

cleared.

Auditor requests and

receives management

responses and timelines and

discusses/refines with Audit

Manager/AD

Auditor drafts report

Audit Manager/AD

proposes audit

timing and staffing

assignments

Director approves

audit timing and

assigned staffing

Audit Manager/AD

presents

recommended

audit program to

Director for final

approval. Audit

Manager/AD

documents

meeting and gives

to Auditor for

inclusion in WP’s

Auditor schedules

entrance

conference with

the client

Comment sheets emailed to

client within 5 working days

of discussion with audit client

Auditor contacts units

periodically to ensure that

management is making

progress against the action

plans.

Updated 05/27/09

Risk Analysis Matrix

(RAM)prepared by auditor

and approved by Manager/

AD – Planning work papers

reviewed at this time

Comments discussed with

audit client in person,

including Audit Manager/AD

as optional.

Manager reviews work

papers as necessary and as

available during the

fieldwork.

Audit Manager/AD emails

Client Survey

As issues are identifed, they

are verbally discussed with

the client to confirm

understanding.

Follow-up audit work is done

to confirm recommendations

have been adequately

addressed. Audit manager/

AD communicates status to

Director

Auditor drafts follow-up

memo and completes work

papers

Audit Manager/AD reviews/

edits the report and reviews

work papers.

Auditor sends revised follow-

up memo to Director and

gets his approval.

Memo distributed

Report presented to

President or Delegate and

distributed as per individual

university’s process.

Audit report and BOR stop light

color finalized and signed. Audit

Summary completed and sent to

Bronwyn