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The Auditors are coming! The Auditors are coming!

The Auditors are coming! The Auditors are coming!. NCURA Regions VI/VII Dorothy Yates Jonnie Jenkins Denver, Colorado Associate Vice President Internal Auditor April 3-6, 2011 University of Wyoming University of Wyoming. Topics for Today.

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The Auditors are coming! The Auditors are coming!

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  1. The Auditors are coming! The Auditors are coming! NCURA Regions VI/VII Dorothy Yates Jonnie Jenkins Denver, Colorado Associate Vice President Internal Auditor April 3-6, 2011 University of Wyoming University of Wyoming

  2. Topics for Today • Types of Audits • Internal Audits • Program site visits • Property system reviews • Office of Inspector General Audits • Office of Inspector General Investigations • A-133 Audit

  3. Internal Audits • “Friendly Audits” • Can be a resource for problem areas • Can really be a help in changing processes and procedures • Can “blame the auditors” • They work for the institution, not the government

  4. Program Site Visits • Typically done on larger federally funded programs • Programmatic review • Process and procedural review • Financial audit

  5. NSF Desk Reviews • Instituted in 2006 to enable NSF to gain insights into awardees’ core award administration policies, procedures, and practices • Assess general management environment, review selected accounting and financial management policies and procedures and obtain financial information submitted by awardees • Conducted 340 over 5 years

  6. Property System Reviews • A property control system analysis (PCSA) is a review of an institution's property control system, performed to determine whether it is capable of controlling, protecting, preserving and maintaining government property in its custody. • Office of Naval Research (ONR) performs PCSAs at all institutions that are in custody of government-titled property under awards that have been delegated to ONR for administration.

  7. Inspector General Audits • Assess internal controls, financial management, information technology, and other systems that affect the operation of federally funded programs • Occur periodically during a close-out, or an inconsistency in practices is noticed, or because of a whistle-blower, etc.

  8. Inspector General Investigations • Differ from IG audits as to intensity • No prior notice • Generally come with subpoena in hand • Have badges and guns; Immediately contact your legal counsel • Typically a result of a whistle-blower

  9. OMB Circular A-133 Audit • Your federal tax dollars at work • Planned and expected • Annual audit of federal expenditures • Allowability • Allocability • Consistency • Cost-share • Program income • Etc, etc

  10. Challenges • Changing audit environment • Auditors are being audited • Audit guidance is changing more frequently • Stimulus funding

  11. Preparing for an External Audit • Rule number 1: do not annoy the auditors • Where will you put them? • Close enough for access, but outside of where the day-to-day business occurs • Reasonable space for their work • Access to electronic systems • Access to physical files • If they are new to the institution, provide parking maps, parking information, restaurants, etc.

  12. Preparing for an Audit • Appoint an audit liaison – a single point of contact for the auditors • Managing the audit - workplan • Managing the auditors • Issues: • Timing • Requests • Interruptions • Response times

  13. Preparing for an Audit • Preparing yourself and your staff for communicating with auditors • Read the audit guidance • Be responsive • Answer questions that are asked; be guarded with external auditors but open with internal auditors • Provide materials requested • Don’t offer information, don’t elaborate

  14. What do the Auditors Want? • To be treated in a courteous and professional manner • A quiet place to work with computer access • Professional responses • Audits are about control failures, not individuals • Cooperation

  15. What do the Auditors Want? • Well prepared – have workpapers, etc. ready for review • Key employees available • Prompt responses • Clear, concise, factual responses • Auditees to be up-to-date on regulatory requirements • Organized files

  16. What Annoys the Auditors? • Passive-aggressive behavior • Resistance to cooperate • “We’ve always done it this way” • Unorganized files • People too busy to talk to them • Putting up roadblocks to change • Defensiveness

  17. What Annoys the Auditors • Deception • Un-organized or unprepared clients • Clients that don’t recognize the audit as a priority • Clients that don’t have a clue about the regulations they are supposed to follow • Rudeness

  18. The End Questions? Contact info: dyates4@uwyo.edu jjenki13@uwyo.edu

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