WHAT TYPE OF AUDITS ARE PERFORMED?
• Financial Audits – address questions of accounting and reporting of financial transactions, including commitments, authorizations, and receipt and disbursement of funds. • Compliance Audits – determine the degree of a department’s adherence to laws, policies and procedures. • Performance Audits – examine the use of resources to evaluate whether those resources are being utilized in the most efficient and effective ways to fulfill the department’s and University’s mission and objectives. • Investigative Audits – focus on alleged irregular conduct to determine whether civil or criminal violations of state or federal laws have occurred. Internal theft, misuse of Baylor assets and/or conflicts of interest are examples of reasons for investigating. 3. WILL I BE NOTIFIED OF A SCHEDULED AUDIT FOR MY DEPARTMENT? Yes. For non-routine audits Internal Audit provides notice via telephone call, e-mail or memo. For routine annual audits the departments are already aware of the audits to be perform
