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Audit Types

An audit can usually be classified into one of the following categories:

Operational Audit

  • Examines an operating process to determine if resources are being used in the most efficient and effective way to meet the unit's mission and objectives
  • Internal control reviews are a major portion of an operational audit
  • Activities such as cash handling, procurement, equipment inventories, and human resources services are generally subject to this type of audit
  • Financial Audit

  • Reviews accounting and financial transactions to determine if commitments, authorization, receipt, and disbursement of funds are properly and accurately recorded and reported
  • Determines if there are sufficient controls over cash and other assets and if adequate process controls exist for the acquisition and use of resources
  • Compliance Audit

  • Determines if departments are complying with applicable Federal or State laws, NCAA and OSHA regulations, and University policies and procedures
  • Recommendations from these audits usually require improvements in processes and controls used to ensure compliance with regulations
  • Information Systems Audit

  • Reviews the internal control environment of automated information processing systems and how people use these systems
  • Evaluates system input and output processing controls, backup and recovery plans, system security, and computer facilities

  • Investigative Audit

  • May result from findings during a routine audit or from information received from personnel
  • Audits are specialized and tailored to the circumstances and can include investigation of alleged violations of laws, regulations, or University policy.