Types of Engagement

Internal Audits An independent appraisal activity for the review of financial and operational activities, and related systems, as a service to management. Internal audits are scheduled based on risk assessment and are designed to be comprehensive in scope. The scope includes an evaluation of internal controls, an assessment of compliance with applicable laws, regulations, etc., a determination of the effective utilization of resources, and the evaluation of integrity of financial and operational information and systems. The following are characteristics of scheduled audits:

Follow-ups A quarterly process to validate that audit recommendations were accomplished or that University management assumed the risks associated with the decision to decline implementation of corrective action. The following aspects apply to follow-ups:

Advisory Services a process to perform custom designed reviews, offer considerations to improve the efficiency and effectiveness of operating areas, and assist management with special requests. Advisory service reviews reflect the following attributes: