Transcript Department of Treasury Services

Texas A&M University
Division of Student Affairs
What To Expect From An
Internal Audit
May 2, 2005
Internal Audit’s Responsibility
Develop an annual audit plan based upon a
system-wide risk assessment process;
 Conduct audits in support of the plan;
 Investigate fraud or fraudulent actions;
 Report results to the Board of Regents, the
Chancellor, and the Chief Executive Officers;
and
 Coordinate audit efforts with external and state
auditors

System Internal Audit Department
Organization Chart
04/13/05
Chief
Auditor
Cathy Smock
Inv estigativ e Unit
M anager
Robin Woods
Sr. Inv estigativ e
Auditor
Debi Fincher
Sr. Inv estigativ e
Auditor
Staff
Assistant
Madelyn Galloway
Information
Systems
Analyst
Matt Wingfield
Director
Director
(Agencies & Regional
Universities)
(TAMU, HSC, &
SAGO)
Staff
Assistant
Administrativ e
Assistant
Student
Worker
Dick Dinan
Charlie Hrncir
Lessie Koester
Judy Stovall
Lindsey Kreier
Internal Audit
Managers
Internal Audit
Managers
Mark Poehl
Amanda Jenami
Bill Williams
Bob Cates
Amanda Dotson
David Maggard
Sandy Ordner
Auditors
Auditors
Brian Billington
Aliza Dirden
Nora Miles
T om Miller
T racey Sadler
Cindy Holbert
Emily Bellamy
Kim Pekar
Atin Agrawal
Christy Halfmann
Lori Ellison
Katina Greenlee
Jaime Harland
Susan McGrail
Kimberly Rutledge
Darwin Rydl
Deidra White
Katie Rannebarger
Robert Smith
Audit Selection
 Auditable
Units
Typical Auditable Units
Academic
Colleges
Business
Functions
Information
Human
Technology
Resources
Auxiliary
Enterprises
Student
Financial Aid
Audit Selection
 Auditable
 Risk
Units
Factors
Risk Factors
Analysis of Likelihood and Impact
 Budget
 Prior Audit
Results
 Complexity
 Change
In Mission and/or Management
 Management Interest
Audit Selection
 Auditable
 Risk
Units
Factors
 Rankings
and
Selections
 Annual Audit
Plan
Annual Audit Plan
 List
of Proposed Audits is Provided to
CEOs for feedback
 Committee on Audit Provides Feedback
 Audit Plan Approved by the BOR
 http://sago.tamu.edu/iaudit/
Auditing Guidelines

The Institute of Internal Auditors: Standards for the
Professional Practice of Internal Auditing

United States General Accounting Office: Government
Auditing Standards

Committee of Sponsoring Organizations of the
Treadway Commission: Internal Control Integrated
Framework

System Policy & Regulation Manual

University Rules & Standard Administrative
Procedures
Audit Process
Audit Process
 Entrance
Conference
 Risk Assessment
 Audit
 End
Program
of Planning Meeting
 Complete Fieldwork
 End of Fieldwork
Meeting
 Draft Report
Ongoing Communication
with Management
 Email
Notification
 Advance Agendas
 Status Meetings
 Continuous Dialogue
 End of Fieldwork Meeting
 Minimize Surprises
Audit Process
 Entrance
Conference
 Risk Assessment
 Audit
 End
Program
of Planning Meeting
 Complete Fieldwork
 End of Fieldwork Meeting
 Draft Report
Reporting Process

Disposition of minor observations.

An ECD (Exit Conference Draft) containing all significant
observations is issued for review by the client. (5-10
working day turnaround)

Changes are made to the ECD, and a Draft Report is
prepared.

The Draft Report is sent out for official management
responses to the observations. (30 calendar day
turnaround)

Final Reports, including management responses, are issued
on a quarterly basis to the Board of Regents.
Common Themes From
Recent Audits
 Information
Data Security
 Human Resource Issues
 Cash Handling
 Student Travel
 Procurement Cards
HOW TO PREPARE FOR AN AUDIT




http://sago.tamu.edu/iaudit/
Click on Presentations- Council of Senior Business Administrations Focus Session, April 21,
2004, Audits: How to Prepare and What to Expect. Presented by James Laird, Assistant
Dean for Finance and Administration, College of Science
Click on Resources- Texas State Auditor’s Office: Assessing Risk in Key Accountability
Control Systems.
Click on Electronic Reports –
1st Quarter Report FY 2005- TAMU Mays Business School
2nd Quarter Report FY 2005- TAES - Review of Revenue Management
1st Quarter Report FY 2004- TAMU- College of Science
2nd Quarter Report FY 2004- TAMU- Review of the President’s Office
3rd Quarter Report FY 2004- TAMU- International Program
3rd Quarter Report FY 2004- TAMU- Athletics Department
3rd Quarter Report FY 2004- TAMU- Review of Transportation
4th Quarter Report FY 2004- TAMU- Review of the Corps: Office of the
Commandant
How to Contact SIAD
Phone:
979/458-7100
Fax:
979/458-7111
Web:
http://sago.tamu.edu/iaudit/
Email:
•Cathy Smock
[email protected]
•Charlie Hrncir
[email protected]