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Why Were We Selected for Audit?

Annually, the Office of Internal Audit & Compliance performs a risk assessment of various units or processes at Pacific. The identification and analysis of risk factors, along with discussions with all stakeholders on campus, is used by Internal Audit to draft an audit plan which is approved by the Audit Committee of the Board of Regents. The following are risk factors which are considered in this assessment:

Institutional Risk Factors

  • Financial Value
  • Public Image
  • Process Complexity
  • Asset Liquidity
  • Budget Deviations
  • Regulatory Guidelines

Environmental Risk Factors

  • Process Stability
  • Recent Audit History
  • Executive Assessment
  • Political Environment
  • Financial Markets
  • Technology Initiatives