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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

 


3. Audit Procedures


1. Establish audit objectives.

 

Objectives should be in enough detail to guide the audit program and limited to no more than four specific areas if possible. The objectives must be approved by the Director and a time budget submitted prior to pre-audit research, review of internal controls, and program development.

 

2. Request or obtain the following as necessary to conduct pre-audit research.

    1. Policies, procedures, and regulations as applicable.
      • Federal agencies
      • State of Nevada
      • University of Nevada Las Vegas
      • Department
      • Other

    2. Audit files from previous audits.

    3. Organization chart.

    4. Organization charter (goals, objectives, and measurement criteria), Articles of Incorporation, summaries of applicable minutes.

    5. List of accounts used by the department.

    6. Budgets

    7. Significant contracts and agreements for this department.

3. Perform pre-audit research.

    1. Prepare a comparative revenue and expenditure report for the department (three-year if possible).

    2. Complete the Audit Planning Questionnaire. (see also Department Goals & Objectives, Financial Management & Control, and General Information). The department should complete as many of the items on the self-assessment checklist as determined appropriate by the auditor.

    3. Complete the Audit Time & Budget Control form.

4. Schedule entrance interview to verify information obtained during pre-audit research as a basis for evaluating scope of audit.

 

5. Perform review of internal controls as applicable

(NOTE: The Sampling Worksheet for Tests of Controls worksheet should be completed for each area/subject tested):

 

  • Cash/Miscellaneous Receipts

  • Accounts Receivable

  • Non-Payroll Expenditures

  • Personnel & Payroll

  • Non-Equipment Inventory

  • Equipment Management

  • Controlled Substances

  • Data Processing

  • Federal Grants & Contracts

  • Miscellaneous Items

 

In the judgment of the auditor, the examination of internal controls and the development of the audit program may be performed simultaneously and altered during the course of fieldwork (most applicable during first-time or surprise audits).

 

6. Perform review of substantive tests

    • Complete the Inherent Risk Assessment form.
    • Complete the Materiality Calculation worksheet
    • Complete the Sampling Worksheet for Substantive Tests worksheet for each area to be reviewed (see also 003 – Substantive Tests)

7. Complete field work, documenting findings in the working papers.

 

8. Complete the Audit Review and Approval worksheet.

 

9. Conduct exit conference with department. Present findings.

 

10. Obtain management response, if applicable.

 

11. Continue to provide assistance to department in reference to responding to findings.

 

12. Forward an Exit Questionnaire to the department for feedback.

 

13. Establish time schedule for follow-up review as appropriate. Include this timeframe in tickler file and audit schedule.

 

14. Perform follow-up review to verify corrective actions were taken on objectives.

 

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