Operational Auditing

Operational Auditing is a non-financial audit that involves a systematic process of evaluating an organization’s (or part of an organization’s) effectiveness, efficiency, and economy of operations.

Desired results of operational audits include discovering innovative solutions, promoting creativity and new ideas, and recommending operational improvements.

Financial Auditing

This type of audit evaluates the reliability and integrity of the accounting system and its output. A Financial Audit will provide assurance to the users of the university’s financial statements that financial reports are accurate and reliable.

The internal auditor performs procedures to provide a level of assurance to the Audit Committee, administrators and senior management that controls surrounding the processes supporting the financial reports are effective.

Information Technology Auditing

Information Technology Audits focuses on an examination of the management control incorportated into the university's Information Technology infrastructure.  The aim is to determine if IT services are safegaurding assets, manitaining data integrity, and operationg effectively to achieve the organization's goals or objectives.

 IT audits include an assessment of the following:

  • Availability: Steps taken to ensure that computer systems will be available when required
  • Confidentiality: Controls deployed to ensure that system data is disclosed only to authorized users
  • Integrity: Validation processes used to ensure system data is always accurate, reliable, and timely

Compliance Auditing

Compliance Audits are conducted to ensure that the university is compliant with:

  • policies
  • plans
  • procedures
  • laws
  • regulations

Forensic Auditing

Forensic Audits are conducted when there is a concern or suspicion of wrongdoing within the organization.  Suspicions can result from a formal complaint process, informal complaint process such as tips, or an audit, including an audit designed to test for fraud.

Forensic auditing consists of gathering sufficient information about specific details and performing those procedures necessary to determine whether fraud has occurred, the loss of exposures associated with the fraud, who was involved, and how it happened.  An important outcome of investigations is that innocent persons are cleared of suspicion.

Forensic audits attempt to discover the full nature and extent of the fraudulent activity, not just the event that may have initiated the investigation.  Forensic audit work includes preparing, documenting, and preserving evidence sufficient for potential legal proceeding.