Types of Audits and Services
There are six services and/or types of reviews performed by the Campus Audit Department. These are:
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.
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.
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 include but are not limited to:
- 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.
- 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.
- 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.