The University of San Francisco: Internal Audit and Tax Compliance
churchfromLM_150
lonemtn_walk_560
Golden Gate Bridge purple 150

Audit Notification Policy



Effective Date: 
September 28, 2011

Last Updated:  September 28, 2011

Responsible University Officer:
  • President

Policy Owner:
  • Director of Internal Audit and Tax Compliance

Policy Contact:

Policy Contents

    Policy Statement
     Reason for Policy
     Who Should Read this Policy
     Policy Text
     Procedures
     Related Information
     Definitions
     Additional Contacts
     Forms
     Responsibilities
     FAQ
     Revision History
     Appendices

POLICY STATEMENT

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.


REASON FOR POLICY

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


WHO SHOULD READ THIS POLICY

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.



POLICY TEXT

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.


PROCEDURES


RELATED INFORMATION

Type

Name

USF

USF Information Security Policy
U.S. Department of Education—Policy Guidance

Family Educational Rights and Privacy Act (FERPA)


DEFINITIONS

Term

Definition

Auditor  Includes auditors employed by Deloitte & Touche LLP, the University’s external audit firm; federal auditors (e.g., Internal Revenue Service, U.S. Department of Education, U.S. State Department, etc.); state auditors (e.g., State Board of Equalization, Franchise Tax Board, etc.); any and all other auditors employed by the University (except those operating out of the Internal Audit and Tax Compliance).

ADDITIONAL CONTACTS

Subject

Contact

Phone

Email/URL

Internal Audit and Tax Compliance Dominic Daher 415.422.5124
 dldaher@usfca.edu

FORMS

Form

Use

Location

(None)


RESPONSIBILITIES

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.


FREQUENTLY ASKED QUESTIONS

(None)

REVISION HISTORY

  • 09/28/2011 - First Publication

APPENDICES

(None)