Audit Notification Policy

This policy does not apply to audits conducted by the Office of Internal Audit and Tax Compliance. Occasionally, departments may be contacted in connection with an audit, investigation, program review, or compliance review (hereinafter collectively and individually referred to as an “audit”). In such cases, the department must notify the Director of Internal Audit and Tax Compliance within three (3) business days that an audit is contemplated or has been initiated. In addition, in order to protect confidential and other sensitive information under the University’s control, no information should be provided to the auditors before the Director of Internal Audit and Tax Compliance has been contacted about the audit and the nature of the request for information.

This Policy sets forth the standards for departments to follow in responding to requests for information made by external auditors. The policy also provides the standards for the coordination of such audits by Internal Audit and Tax Compliance

Any employee who is contacted by an external party in connection with a proposed audit of the University or a department or division thereof; the President, Vice Presidents, Vice Provosts, and Deans, as well as supervisors and Approving Budget Managers who are responsible for responding to requests for information made by external auditors.

The Director of Internal Audit and Tax Compliance coordinates all internal and external audit activities in order to:

• Ensure accurate and fair evaluations;
• Prevent the inappropriate disclosure of confidential information;
• Avoid duplicate audits and audit costs;
• Determine the reasonableness of the audit objectives; 
• Provide University administration with an independent understanding of the audit objectives and results; and
• Evaluate corrective actions planned or taken as a result of the audit.
  

This policy also allows for an appropriate deployment of University level (rather than department or division level) resources to be utilized in responding to prospective audits and for the centralized tracking of such audits by Internal Audit and Tax Compliance.

Department

• Contacts the Director of Internal Audit and Tax Compliance in response to inquiries from external auditors.
  

• Responds to information requests made by external auditors within the time period specified.

Internal Audit and Tax Compliance Review

• Reviews external audit work plan and data requests in accordance with this Policy.
• Coordinates submission of requested information and requests for extensions.
• Ensures corrective action plans are implemented in a timely manner.
  

President, Vice Presidents, and Vice Provosts

• Ensures departments under their jurisdiction are in compliance with this Policy, including the implementation of corrective actions arising from the audit.

(None)