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Audit Manual

1. Introduction
a) Purpose
b) Types of Audits

c) Campus Audit Charter

 

2. Office Organization
a) Organization and Areas of Responsibility
b) Statistics and Comparative Data

c) Future/Goals

 

3. Audit Procedures
4. Filing System
5. Forms Used by Campus Audit
6. Self-Assessment Questionnaires

 


1. Introduction

1. PURPOSE

 

The Campus Audit Department performs audits of all University departments, auxiliaries and subsidiaries. The Campus Audit Department serves as an independent control and appraisal activity established to review the fiscal and administrative operations of the financial areas of the University.

2. TYPES OF AUDITS

 

There are six services and/or types of reviews performed by the Campus Audit Department. These are:

 

  • Operational reviews
  • Financial reviews
  • Compliance reviews
  • Internal controls reviews
  • Information system reviews
  • Special Audits

 

OPERATIONAL REVIEWS

 

These reviews examine the use of resources to determine of the resources are being used in the most effective and efficient manner to fulfill the University’s mission and objectives. An operational review includes elements of the other review types listed below.

 

FINANCIAL REVIEWS

 

These review accounting and financial transactions to determine if commitments, authorizations, and receipt and disbursement of funds are properly and accurately recorded and reported. This type of review also determines if there are sufficient controls over cash and other assets and that adequate process controls exist over the acquisition and use of resources. Unlike external financial audits, internal financial reviews do not prepare or express professional opinions on the financial statements’ fairness.

 

COMPLIANCE REVIEWS

 

These reviews determine if departments are complying with applicable laws, regulations, policies and procedures. Examples include federal and state laws, Chancellor’s Office directives, Board of Regents policies and procedures, and UNLV policies and procedures. Recommendations from these reviews usually require improvements in processes and controls used to ensure compliance with regulations.

 

 

INTERNAL CONTROL REVIEWS

 

These reviews focus on the components of the University’s major business activities, such as pay and benefits, cash handling, inventory and equipment, physical security, and grants and contracts.

 

INFORMATION SYSTEMS (IS) REVIEWS

 

These review the internal control environment of automated information processing systems and how people use these systems. The audits usually evaluate system input and output; processing controls, backup and recovery plans, system security, and computer facilities. These reviews may review existing, as well as, developing systems.

 

SPECIAL AUDITS

 

Special audits include but are not limited to:

 

  1. Management Audits. A management audit assesses the quality of the decision-making process and the information environment. They may be requested by the senior officers or the need becomes apparent because of the number of findings within a department on other types of audits.
  2. Program (Cost-benefit) Audits. These audits evaluate the economy, efficiency and effectiveness of a program. The auditor will concentrate on the inputs and outputs for a specific program. The purpose overlaps with operational and management audits and the process review.
  3. Investigative Audits. Investigative audits may result from findings during a routine audit or from information received from personnel. The audit should be conducted immediately, collecting as much evidence as possible. It is essential that the records in question be removed from the department/employee under investigation or otherwise safeguarded.

 

3. CAMPUS AUDIT DEPARTMENT CHARTER

 

INTRODUCTION

 

Campus Audit’s role is to be an independent, objective, assurance and consulting function that adds value and improves the operations of UNLV. It helps the University achieve objectives by systematically evaluating and improving risk management, control, governance, and the implementation of best practices.

 

Campus Audit was established by the Vice President for Finance and Business. The Campus Audit Director reports, both administratively and on audit matters, directly to the Vice President for Finance and Business.

 

Campus Audit is granted free and unrestricted access to all relevant University records, physical properties and personnel. When necessary, University personnel will assist Campus Audit.

 

PROFESSIONAL STANDARDS

 

The Campus Audit will follow the Code of Ethics of the Institute of Internal Auditors and all University policies. The department diligently maintains an independent attitude.

 

The audit work schedule is developed by prioritizing the audit universe by risk. Campus Audit reports its plans, significant issues, and staffing capabilities to the Vice President for Finance and Business as needed.

 

Campus Audit issues a written report after each review for distribution to clients and other appropriate parties. Each audit’s results are retained by the Department and are available to the Vice President for Finance and Business. Management implements corrective action identified during audits, and Campus Audit performs follow-up reviews of these actions.

 

AUDIT DEPARTMENT WORK

 

Campus Audit’s scope includes evaluating the University’s control systems and its progress on achieving stated goals and objectives, suggesting improvements, and providing reports. The scope involves helping to:

 

  1. Assess the University’s risk management, corporate governance, and internal control systems. Provide an overview of the effectiveness of the internal control system.
  2. Assess issues or concerns. At management request and with the approval of the Vice President for Finance and Business, review specific matters. Review existing operations or programs to determine results are consistent with those expected. Review development of new systems to determine progress, results, and testing are consistent with established goals and objectives. Perform value-added process analyses and provide advice to management. Systematically evaluate the University’s efficiency and effectiveness.
  3. Develop Campus Audit associates for management positions. Identify candidates with control expertise and recommend them for positions throughout the University.

 

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