Authority
The Financial and Operational Auditing staff, in performing its duties, is permitted access to all University activities, facilities, records and employees necessary to complete their assigned activities. The FOA staff will exercise complete discretion and ensure confidentiality of audit matters.

Planning
The Director of Financial and Operational Auditing will develop a risk-based plan to determine priorities of the office that are consistent with the goals of the University. This plan will be based upon a risk assessment with the input of senior management and submitted to the Audit Committee for review and approval.

Reporting A written report will be prepared at the conclusion of each audit. The report will be distributed at the presidential, vice-presidential and departmental level as appropriate. Additionally, an executive summary of each report will be forwarded to the Audit Committee of the Board of Regents.

Audit reports will include findings, recommendations for corrective action as well as the Auditee’s response to each recommendation. FOA will be responsible for appropriate follow-up on significant audit findings and recommendations to ensure adequate corrective action has been implemented.