Internal Auditor

Audit Services

Frequency

Annual Work
Each fiscal year an annual audit plan is developed and submitted to the University of Nebraska Board of Regents Audit Committee for review. The audit plan is based on a risk assessment methodology.

Management Request
This type of audit occurs when there is a request by management. If you would like to request an audit, please call the Internal Auditor at (308) 865-8222.

Fraud/Special Projects
These projects are the result of a complaint by an individual who knows or suspects an act of fraud or financial misconduct.

Fraud is defined by Federal law (42 CFR 455.2) as "an intentional deception or misrepresentation made by a person with the knowledge that the deception could result in some unauthorized benefit to himself or some other person. It includes any act that constitutes fraud under applicable Federal or State law."

Complaints may be made by phone or anonymously by email. For more information visit:  http://nebraska.edu/board/internal-audit-and-advisory-services/reporting-fraud.html.

Types of Audits

Financial Audits
Financial auditing is a retrospective analysis intended to determine whether an organization's financial information was properly recorded and adequately supported. A financial audit also provides an assessment as to the accuracy, fairness, and reliability of information provided in the preparation of the financial statements.

Operational Audits
Operational auditing is a current analysis of an organization's mission, goals, and objectives. An operational audit also evaluates the effectiveness and efficiency of operations. Operational audits result in an assessment of compliance, efficiency, economy, and effectiveness of management practices and controls associated with these operational functions.

Compliance Audits
Compliance auditing, measures the University’s compliance with an established law, regulation and/or policy and procedure. Compliance audits may also examine standards of conduct and ethics. Examples of types of compliance include:

  • Federal, state or local law or regulation
  • State of Nebraska Department of Administrative Services (DAS)
  • University policies and procedures
  • Board of Regents bylaws, policies or rules
  • Other (NCAA, etc.)

Information System / Technology Audits
Information systems auditing examines risk management, control, and governance. The framework of application controls, general computer controls, and systems controls are also addressed.

Follow-Up Audits
Follow-up auditing is a means of monitoring the disposition of audit results that have been previously communicated to management. Generally, a follow-up audit is often performed within one year of the issuance of the final audit report. The follow-up audit assesses implementation of management response to audit recommendations, and evaluates the adequacy and timeliness of corrective action.

Consulting / Special Requests
Consulting services are advisory and client-requested activities, whose scope and objectives are agreed upon, in advance, with the client. Consulting engagements are intended to add value and improve an organization's effectiveness.