Types of Audits Performed

back to Internal Audit home page

Types of Audits Performed

The Internal Audit Group is responsible for the process by which the University reviews and assesses the probity, economy, effectiveness and efficiency of its management control and practices.

Operational audits

Financial and administration audits

Compliance audits

Information technology audits

Special investigations

Operational Audits
This category reviews the principal operational functions of the University. Operational audits are undertaken for the purposes of assessment of compliance, efficiency, economy and effectiveness of management practices and controls associated with these operational functions. They have a strategic focus and are primarily concerned with the achievement of the University's strategic objectives and goals.
< Back to top

Financial and Administration Audits
This category includes the review of all ancillary functions such as budgeting, financial statements, accounting systems, revenue collection procedures, purchasing operations, payroll, staff recruitment and development, management information systems and security systems and procedures. As the procedures covering most of the activities in this category are regulated by laws, external principles or management directive, the purposes of the audit generally relate to integrity of data or compliance. A systems based audit methodology is generally appropriate for such audits. Audits of financial and administrative activities may also be undertaken for the purpose of assessing the efficiency or effectiveness of these activities or of the systems or procedures in use.
< Back to top

Compliance Audits
Compliance audits determine the degree of adherence to policies and procedures set out in the University's Policies and Operating Procedures. It is also concerned with compliance with all relevant external legislative requirements.

< Back to top

Information Technology Audits
The auditing of computer systems can be conducted as an integral part of the audit of financial and administrative systems. However, the increasing importance of the computer as a management support tool has seen the need for specialist audits in this field.
< Back to top

Special Investigations
Some internal audit activity takes the form of a special investigation. The object of these investigations is to diagnose specific problem areas, establish whether some further action or investigation is warranted and perhaps prepare the way for subsequent audits or reviews. See also "Service Delivery".
< Back to top

back to Internal Audit home page