Internal Audit

What to Expect During the Audit Process

The Audit Process

Audit Process

Your Involvement

Most of the audit work is done behind the scenes at our office; however at times we will need your assistance:

  • Entrance Meeting - We will hold an entrance meeting with key leaders in your area to discuss the audit process and the anticipated audit scope.

  • Risk Discussions - We will conduct risk discussions where we meet individually with key leaders and select staff to gain an overview of their area of operations and the related risks.

  • Planning Survey - At the beginning of the audit, management and staff will complete surveys to provide information about what each person does and how your unit works overall.

  • Fraud Notification - At the beginning of the engagement, we ask you to notify all faculty and staff in your area of UNCW's fraud reporting hotline.

  • Fieldwork/Testing - Fieldwork is the phase in which we conduct testing. We may need to meet with staff to obtain supporting documentation, to better understand processes, or to discuss potential areas of concern.

  • Draft Report/Draft Consulting Notes - You will have a chance to review draft copies of the report and any consulting notes (minor observations) prior to the exit meeting.

  • Exit meeting - After fieldwork is complete and a draft report has been prepared, we will hold an exit meeting with key leaders in your area to discuss the results of the audit.

  • Finding Response - You will have the opportunity to formally respond to any audit findings.

  • Final Review of Draft Report - A final draft of the report with your responses to findings will be shared with you before the report is released.

  • Report - Your department will be notified when the report is issued.

  • Follow Up - We will contact you 3-6 months following the issuance of the report to begin the process of following up on any audit findings.