Subsite Background

Audit / Review Process

1.  Planning – Defining the objective, scope and timing of the audit/review.

  • Perform assessment to define the audit objectives and scope.
  • Have an entrance meeting with the auditee to cover and agree on the audit objectives, scope, timing, personnel involved and other related issues.
  • Incorporate auditee or the University’s management concerns in the audit/review scope whenever applicable.
  • Notify the auditee's Unit Head, line managers and other relevant parties about the audit.

2.  Fieldwork – Performing audit/review procedures which include, but not limited to the following tasks:

  • Review relevant policies, procedures manual, records, documents, data, and computer systems.
  • Interview relevant staff members on procedures, practices and any concerns that they may have.
  • Perform system walkthrough, audit tests, and/or analysis.
  • Evaluate the adequacy and effectiveness of internal controls.
  • Discuss audit results, findings and recommendations with the auditee’s Unit Head and responsible line managers.

3.  Reporting – Communicating audit/review results to the auditee, affected units, President, and Audit Committee.

  • Circulate an initial draft report to the auditee first and then have an exit meeting with them to go over the audit results, findings and recommendations.
  • Issue a draft report to the auditee after the exit meeting and revise it to reflect subsequent factual confirmation and/or further input/comment if necessary.
  • Finalize the audit report and send it to the auditee’s Unit Head with a request for written management response plus implementation timeline for each finding & recommendation.
  • Report major audit findings and recommendations along with management responses to the University’s President and the Audit Committee.

4.  Follow-up – Ensuring that management actions have been effectively implemented.

  • Review the auditee’s periodic submission of their implementation status.
  • Follow-up overdue items with the auditee’s Unit Head and escalate them to the unit’s supervisor of Senior Management if necessary.
  • Report the implementation status of all major audit findings and recommendations to the University’s President and the Audit Committee.