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Internal
Audit
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An audit can usually be classified into one of the following five categories:
In addition, a wide range of Consulting
Services is available.
Operational Audit
An operational audit examines an operating process to determine
if resources are being used in the most efficient and effective
ways to meet the unit's mission and objectives. Internal control
reviews are a major portion of an operational review. Activities
such as human resources services, cash handling, procurement,
and equipment inventories are generally subject to this type
of audit. (top)
Financial Audit
A financial audit reviews the recording and reporting of financial
transactions. The purpose of this type of audit is to provide
management with assurance that financial information is accurately
recorded in the University's financial records and that these
records support the information shown in the financial reports.
(top)
Compliance
Audit
A compliance audit evaluates the University's
adherence to laws, regulations, and internal and external policies
governing the activity being reviewed. Examples of these requirements
include Federal and State laws, NCAA and OSHA regulations, and
SUNY and UB policies and procedures. (top)
Information System Audit
An information system (IS) audit reviews the internal control
environment and the use of an automated information and transaction
processing system. These audits typically evaluate system input,
processing, and output; data and physical security; backup and
recovery plans; and system administration. (top)
Investigative Audits
Investigative audits focus on alleged civil or criminal violations
of State or Federal Laws and of violations of University policies
and procedures that may result in prosecution or disciplinary
action. The classification into which an audit is categorized
is based on the main thrust of the review. While most of our
audits are operational or compliance, there is always some overlap
in every review. For example, an operational audit may entail
verification of financial data and compliance with the rules
and regulations established by a regulatory agency governing
the activity under review. (top)
Consulting
Besides completing audits, we are available for Consulting. This encompasses
a wide variety of services that allows the University community
to utilize our financial and information system expertise, such
as committee membership in the development of a process or the
review of policy or procedural drafts. (top)
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