1 / 12

Internal Audit

Internal Audit. Office Manager Meeting November 13, 2012. Agenda . What is Internal Audit? Campus Audits Scope Ratings Frequency What to expect 2012-2013 Schedule. What is Internal Audit? .

daw
Download Presentation

Internal Audit

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Internal Audit Office Manager Meeting November 13, 2012

  2. Agenda • What is Internal Audit? • Campus Audits • Scope • Ratings • Frequency • What to expect • 2012-2013 Schedule

  3. What is Internal Audit? • “Internal auditing is an independent, objective, assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by brining a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance.” • The Institute of Internal Auditors (The IIA)

  4. What is Internal Audit? • Independent, objective, assurance and consulting • Independent and objective– reporting and duties • Assurance and consulting – confirming and reviewing • Systematic, disciplined approach • Audit program and sampling pre-determined

  5. Campus Audits - Scope • General controls over • Cash (deposits and security) • Campus and Student Activity funds • Disbursements • Petty Cash • Library • Security • FANS • Review current year

  6. Campus Audits – Rating • Why? • Excellent • No cash control weaknesses • No procedural errors • Transactions timely • Strong • No cash control weaknesses • Few and infrequent procedural errors • Transactions timely

  7. Campus Audits - Ratings • Adequate • Some cash control weaknesses • Consistent, but minor procedural errors • Transactions occasionally not processed timely • Insufficient • Cash control weaknesses • Consistent procedural errors • Transactions frequently are not processed timely

  8. Campus Audits – Frequency • Change in Principal or Office Manager • Request • Prior audit rating • Rotation • Sr. High – every year • High - every other year • Middle - every three years • Elementary – every four years

  9. What to Expect • Initiation letter • Opening meeting • Timing on campus varies • Middle-Sr. High 1-4 days • Elementary 1-2 days • Draft Report • Report

  10. 2012-2013 • Campus Audits to begin January (Approx. 30 locations) • Scope from November to current • Documentation • TEAMS • Petty Cash support • AP • Hard Copy • Fund-raising documents

  11. Need Help? • Finance sets policy • Great resource for questions, especially unique situations. Don’t wait until it’s a big problem! • Fraud • Start with security • Getting started • Un-official visit by Internal Audit

  12. Questions? Jenna Isensee CIA, CCSA Jenna.Isensee@pisd.edu 469-752-6174

More Related