How to Manage a Financially Focused University Research Audit Effectively
This comprehensive publication covers all aspects of the audit process from the pre-award preparation, notification, roles and responsibilities, scope, entrance conference, field work, exit conference, final report, to audit resolution and follow-up.
Includes references and resources and over 30 tips from seasoned experts.
(30 pages, PDF)
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Table of Contents
Introduction: What is an Audit?
Summary of Key Audits of the Sponsored Research Function
Sponsor/Office of Inspector General (OIG) Audits
Federal Single Audit (Often Called A-133 Audit)
Subrecipient Monitoring Audit Activities
Audit Process/Lifecycle Overview
Policy for Audit Response and Management
Awareness of Audit Environment and Federal Agendas
Incorporate Audit Readiness into Training
Audit Roles and Responsibilities
Recognize that an Audit has been Initiated or Requested
Identify the Agency or Other Auditor Involved
Identify Areas of the Institution Affected
Appoint a Designated Audit Liaison
Brief Leadership and Others
Develop a Plan
Definition of Scope
Determine Scope and Extent of the Audit
Obtain Data from IT Systems
Review Planned Submissions
Interviews and Walk-throughs
Common Audit Findings
Final Report and Audit Response
Audit Resolution and Follow-up
Appendix: References and Resources
30 pages, PDF