Audit Process
We follow professional auditing principles and standards and incorporate best practice appropriate to the University environment. We endeavour to plan work to minimise disruption to the area under review and strive to schedule reviews at mutually convenient times.
The audit process is a collaborative one and the approach may vary in response to the circumstances or nature of the audit but normally the main steps we follow are:-Stage 1 - Planning
Within the Fieldwork phase, auditor will undertake specific tests in order to achieve the objectives and purpose of the audit. For each control reviewed, the auditor will conclude whether the control is effective / ineffective.
Fieldwork to complete the audit may involve meetings, review of relevant files and documentation, observation, detailed testing where appropriate and analysis of information provided.
The results of the fieldwork phase are subject to internal review and challenge within the Internal Audit function, in line with IIA Standards, to ensure completeness, accuracy and appropriateness.
Stage 2 - Fieldwork
Within the Fieldwork phase, auditor will undertake specific tests in order to achieve the objectives and purpose of the audit. For each control reviewed, the auditor will conclude whether the control is effective / ineffective.
Fieldwork to complete the audit may involve meetings, review of relevant files and documentation, observation, detailed testing where appropriate and analysis of information provided.
The results of the fieldwork phase are subject to internal review and challenge within the Internal Audit function, in line with IIA Standards, to ensure completeness, accuracy and appropriateness.
Stage 3 - Reporting
The process for finalising the internal audit report is a collaborative one. A draft report will be prepared based on the results of the fieldwork phase of the audit and circulated to the relevant areas under review for management response.
Once the management responses, detailing actions to be taken to address the recommendations within the report, have been provided and agreed a final draft report will be provided to management for information.
Following consideration of the audit report by the Audit Committee, the final report will be circulated to management for information.