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Assurance
Internal Audit
at Thompson Rivers
University – “The 5 W’s”
October , 2014
We’re Here to Help!
The audit plan is a listing of audit engagements for the year which is based on the
risk assessment
This includes an estimate for the hours required to complete the planning, field work ,
meetings and writing the audit report
The field work is mostly done in finance and procurement, we also plan to go to Williams
Lake
• Initial contact
Fieldwork with division head in draft
report
“Engagement Letter • Auditee has responsibility
• Develop Audit program • Interviews to respond to the findings
• Sample Selection • Process mapping • Once the report has been
• Testing of Internal approved by appropriate
Controls or Policies level of management
report is issued
• Transaction testing
• Appropriate follow up on
Reporting
What areas are typically tested as part of an internal audit?
The areas to be tested are dependent on the activities of the department. The most
common areas that have been tested are:
1. Cash handling
2. Time approval
3. PCard transactions
4. Grants/contracts
5. Travel expense claims
6. Disbursements (purchase orders, payment requests, IDIs)
7. Policies and procedures
We also received requests from campus community for these investigations, where
it is warranted we do the work