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How we carry out an Internal Audit

We will :

  • Produce the Audit Assignment Scope and Objectives, which is either based on a standard approach for School and Departmental accounting systems, or is specifically drawn up in case of other reviews.

  • This is discussed with the auditee prior to commencement of the audit. This ensures that we are made aware of any specific problems that should be taken into account during the audit.

  • Complete a Risk Control Evaluation in liaison with the auditee. This helps us to assess the adequacy of the system internal controls in place.

  • Carry out a programme of Audit Tests designed to assess the strength of the internal controls actually being applied.

  • Produce our Audit Report, which promotes fair assessments of the internal control system that has been audited. Where we have observed internal control problems, we shall provide practical solutions in the form of audit recommendations.

  • It is important to us that the audit report is factually correct and a fair appraisal of the system of internal control. A first draft audit report will therefore be produced for discussion with school / departmental staff. This will result in a second draft report for consideration by the Head of School / Department.