Internal Audit

Audit Selection Process

Each year, the Office of Internal Audit creates an audit plan (work plan) which is reviewed and approved by the Audit, Risk, and Compliance Committee of the Board of Trustees. There are several reasons items can be added to the audit plan. Our office completes a comprehensive risk assessment annually and assesses items including degree of regulatory compliance, reliance on technology, transaction complexity and volume, organizational change, and other factors. Engagements may be added to the audit plan based on this risk assessment. In addition, all departments and divisions at UNCW are reviewed and may be added to the plan based on time since last review. Finally, the audit plan also includes engagements requested by management and governing bodies and allows room for our office to complete investigations and work on special projects throughout the year.