In consultation with university senior leadership, we develop an annual audit plan which may comprise of a number of different types of audits, including:
Financial audits address issues with respect to the accounting, recording and reporting of financial transactions and assess the adequacy of internal controls related to financial reporting systems maintained by the university.
Compliance audits provide assurance of compliance with policies and procedures established by the university, as well as any applicable laws and regulations that could have a significant impact on university operations.
Operational audits are a systematic process of evaluating the university's effectiveness, efficiency and economy of operations under management's control. This may include verification that:
- resources are employed efficiently and economically;
- established operating goals and objectives are accomplished;
- applicable external requirements (e.g. laws, contract provisions, etc.) are met; and
- adequate internal control systems are in place to safeguard assets.
Information technology (IT) audits provide reasonable assurance of the continuing integrity, reliability and availability of critical information assets and help ensure that the use of these assets is in accordance with applicable laws, rules and policies.
Special reviews are performed in response to allegations received by our office through the university's Safe Disclosure Policy or other internal and external sources. Such concerns usually involve financial improprieties, including fraud, theft, falsification of records and improper use of university assets. In conducting such reviews, IAS maintains its objectivity and independence so that pertinent and accurate information can be obtained and assessed in determining the outcome of the review. Visit the Safe Disclosure page to submit a safe disclosure report.