How to Prepare for an Audit
Audits and reviews are performed by the Internal Audit Department in the Chancellor's Office as well as by Campus Audit. In either case, your department will be contacted and invited to an entrance conference before the start of the audit work. If the audit is to be performed by Internal Audit, a Campus Auditor will serve as a liaison.
These suggestions should help when you are expecting an audit, or at any time when you want to improve the operations of your department.
- Review the Best Practices section and implement corrections to any deficiencies immediately. Do not wait for the audit team to arrive.
- Make sure that everyone in your department who handles cash or performs accounting functions is familiar with the applicable procedures as described in the University Administrative Manual.
- Update the department's written policies and procedures, making sure that they are complete and accurate.
- Review and update your equipment inventory list and your list of sensitive equipment. Make sure that the responsible person named is in fact someone who is familiar with the equipment and its location. Generally, the responsible person is the person who primarily works with the equipment.
- If you have a petty cash fund and you have purchase receipts on hand, submit the receipts for reimbursement if they are older than the current quarter.
- Review your departmental leave records. Correct any mistakes.
- Prepare a list of any contracts involving your department.
- Use the Internal Control Assessment Tool to evaluate internal control in your department.