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FAQs

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    What is Internal Auditing?

    The internal audit function contributes to the effectiveness of controls that management is responsible for establishing and maintaining. We provide the Board of Governors with an independent, objective assurance and consulting activity which is designed to add value and improve the University’s operations.
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    Are Internal Auditors employees of CSU-Pueblo?

    No.  All employees of the Internal Auditing Department are Colorado State University System employees.
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    Are there any other auditors that I might encounter at CSU-Pueblo?

    Yes, CSU-Pueblo engages an external auditor to perform the annual financial statement audit.  In addition, the Colorado State Auditor may audit areas of CSU-Pueblo. On occasion, auditors from federal (or state) agencies may be on campus reviewing programs or research they have funded.  Please keep in mind that any auditor working on campus should be able to appropriately identify themselves. Our suggestion is not to provide any documentation, records, or access to assets until the individual provides proper identification. No auditor should be offended by such a request. 
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    How do you select areas for review?

    Most areas are selected on an annual evaluation or risk assessment performed by the Director of Internal Audit.
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    How long do audits take?

    There is no easy answer to this question as each audit’s length will depend on the nature and scope of the review. Small audits might last a week while more complex reviews can last several months.
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    Are auditors looking for fraud when performing audits?

    Auditors are not specifically searching for the existence of fraud when performing audits.  However, the performance of generally accepted auditing procedures would identify certain types of fraud.  An adequate system of internal control and a control conscious organizational environment will reduce the risk of fraud.
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    I have a policy question, can Internal Auditing help me?

    Absolutely, if you have questions on policies, procedures, or best practices we will be glad to help. In some cases we will know the answer to your question, but if we don’t we will be glad to research the answer to your question. 
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    Why might I, or someone else, request an audit?

    There are many benefits to performing an audit. If someone in your office has recently assumed new responsibilities, an audit can review the current procedures and assess whether the internal controls in your department are adequate. It can also be very beneficial when new computer systems have been installed. An audit is a good way to ensure that your policies and procedures are effective and efficient. In addition, having an outsider review your organization offers an independent opinion free of internal influences.
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    What are (Internal) controls?

    A control is any policy, procedure, practice, or mechanism designed to provide reasonable assurance that the organization's objectives will be achieved. This includes controls designed to safeguard assets, ensure the timeliness, accuracy and reliability of financial and management reporting and to promote operational efficiency, effectiveness and compliance with all applicable laws, regulations, policies and procedures.  It is the responsibility of management to ensure that appropriate controls are implemented and functioning to support achievement of unit objectives.
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    What is an audit finding?

    If a significant issue is identified during the audit of a department the result is a finding. Findings have certain elements, including criteria or basis for determining that a problem does exist, a condition or situation that was observed, the effect or impact of the condition, and the cause of the problem to the extent that it can be determined. Findings should result in recommendations that resolve the issue and are helpful to management.
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    How will audit findings be reported?

    You and your staff will be kept informed of the auditor's findings throughout the course of the audit. At the conclusion of the audit, you will be able to review a draft of the report before the final version is issued. A copy of your department's response to the audit findings is included in the final audit report.
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    Must the Auditee always implement audit report recommendations?

    No.  While the adoption of Internal Auditing's recommendations is encouraged, we do not have directive authority.  In most instances auditees implement suggestions.  However, auditees may choose different procedures to correct control concerns identified during the audits. 
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    What does scope mean?

    The scope of an audit refers to what organization functions will be included for review as part of the audit. Internal Audit wants to maximize its resources by concentrating on specific significant areas within an organization. The audit scope is determined through review of the organization's functions, discussion with the organization's management and auditor judgment.

Internal Audit

Candice Bridgers, Audit Manager

Staff

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