The Audit Process

Following is a description of what to expect when you are audited. The time needed for the audit will vary but the process is the same.

• Entrance Conference
  The department head is informed that the audit is scheduled. The auditor will meet with the department head and key personnel to discuss the purpose and objectives of the audit. This is an opportunity for the department to discuss any concerns or issues that should be included in the audit.
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• Field (Audit) Work
  Since every audit is unique, the field work procedures vary. Typically the auditor evaluates the department's system of internal controls and tests control compliance by tracing a sample of transactions through the process. Key procedures are reviewed. Throughout the process, the department is kept informed of the audit progress including any potential audit recommendations.
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• Preliminary Exit Meeting
  After completion of the field work, a preliminary exit conference with the department is held to discuss the audit results and recommendations
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• Draft Audit Report
  The auditor prepares the draft audit report and submits it to the department for comment. Input from the department is critical to be sure that the report accurately reflects the issues.
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• Exit Conference
  This is the final meeting with the department to discuss the audit results and report.
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• Management Responses
  The department is asked to write responses to each audit finding. The auditor will work with the department on the responses, if necessary.
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• Final Audit Report
  Internal audit publishes the final audit report with the management responses. The report is addressed to Treasurer, Board of Trustees, with copies to the Trustees' Budget and Finance Committee, CSM President, department administrator(s) and other officials deemed appropriate by internal audit.
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• Audit Follow-Up
  Internal auditor schedules a follow-up review 6 months after the original audit to determine the status of the recommendations. A follow-up report is issued.