The Audit Process: How It Works
The majority of audits are scheduled on a fiscal year basis. Several factors determine what areas are audited including: annual risk assessment, legal requirements, special management requests, cyclical rotation among UT schools and UT System directed. (You can view our current Work Plan here.) The auditing process involves the eight steps below:
#1: Engagement Memo
#2: Entrance Conference
#3: Audit Work
#4: Duration of Audits
#5: Communicating the Results
#6: Exit Conference
An exit conference is held to discuss audit findings and typically includes the auditors, management responsible for the area audited, and staff who will have involvement in resolving the concerns identified. This meeting provides an opportunity to clear and resolve questions/concerns pertaining to findings before the final audit report is released.
#7: Final Audit Report
The final audit report includes findings, recommendations and management responses. Copies of the report are distributed to the president, appropriate vice presidents, the unit's manager, and UT System Audit Office. Audit findings are also included in a summary of all UT institutional reports provided to the chancellor and the Audit Committee of the Board of Regents.
#8: Follow-up Reviews
Our professional standards require that we follow-up and report on previously reported findings to determine if corrective action was taken and concerns were resolved.
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If you are aware of a fraudulent act that was committed by a member of the UT Arlington campus community, you have the responsibility to notify either your supervisor, the appropriate Administrator, Department of Internal Audit or UT Arlington Police Department. Employees who in good faith report unlawful activity are protected by the Texas Whistle-Blower Act against retaliation.
To report fraud, waste or abuse at UT Arlington, contact the Ethics Hotline at 1-877-507-7314, or email email@example.com. You can also contact the State Auditor’s Office at:
1-800-TXAUDIT (1-800-892-8348), or online at http://sao.fraud.state.tx.us/.