Internal Audit

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Internal Audit Advisory Services
Dave Lane dvlane_at_ucsc.edu
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Internal Audit Functions

• Independent appraisal activity - as a service to
  management and/or The Regents
• Identification of risk in achievement of
  business objectives
• Assist in design and administration of cost
  effective controls to manage risk
• Assurance accounting and information systems are
  reliable
• Ensure compliance with applicable laws and
  regulations

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Audit Services

• Process and control reviews (Compliance with
  Policy)
• Efficiency reviews
• Advisory services
• IT systems review and consultations
• Fraud investigations
• External audit coordination
• Conflict of interest and Gift to Agency
  coordination

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Audit Types

• Planned Audits
• Advisory services/Consultations
• Investigations
• Training/Other

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Audit Process

• Start letter
• Entrance Meeting
• Field work, data analysis, on-going communication
  with audit client
• Draft Report
• Exit Meeting
• Unit response (edited report issued for response
  and senior management concurrence)
• Final Report
• Follow-up

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• Thanks!
• For more information go to audit.ucsc.edu