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)

Internal Audits

Subrecipient Monitoring Audit Activities

Audit Process/Lifecycle Overview

Pre-Notification Preparation

Policy for Audit Response and Management

Awareness of Audit Environment and Federal Agendas

Incorporate Audit Readiness into Training

Audit Roles and Responsibilities

Auditors

Institutional Resources

Notification

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

Prepare

Assess Risk

Entrance Conference

Fieldwork

Interviews and Walk-throughs

Document Requests

Institutional Communications

Common Audit Findings

Exit Conference

Preliminary Report

Final Report and Audit Response

Audit Resolution and Follow-up

Conclusion

Appendix: References and Resources

30 pages, PDF

Ashley Deihr
Senior Manager, Baker Tilly

Ashley Deihr, CPA, CIA, CFE, Senior Manager at Baker Tilly, is a member of the firm's Higher Education and Research Institutions Practice specializing in assisting institutions with organizing for compliance, managing sponsored research risks and processes, and achieving strategic objectives.

Kimberly Ginn
Partner, Baker Tilly

Kimberly Ginn, CIA, Partner at Baker Tilly, is a leader in the firm's Higher Education and Research Institutions Practice with over sixteen years of experience advising on research risks and controls, compliance infrastructures and programs, governance structures, and complex audit matters.


Jeffrey Silber
Senior Director, Sponsored Financial Services, Cornell University

Jeffrey Silber, Senior Director of Sponsored Finance at Cornell University, is responsible for post-award finance, cost accounting and capital assets. He has over three decades in research administration, is active with NCURA and serves on the Costing Committee of the Council on Governmental Relations (COGR).