What is an Audit?

The first thing that comes to mind when some people think of auditing is financial auditing. In reality, financial auditing is just one aspect of the auditing process.  Audits at Weber generally include an examination of the entire organizational unit, system or function and often include an evaluation of the following:

  • Compliance with laws, rules and regulations.
  • Compliance to applicable University policies.
  • Adequacy of internal controls.
  • Efficiency and effectiveness of operations.

Audits often focus on determining if procedures and internal controls are adequate.  An adequate procedure helps ensure that the objectives of the system, function, or unit are achieved in an effective and efficient manner.  An adequate control prevents an unwanted outcome from occurring.

Internal audits at Weber generally fall within five categories.

Regularly Scheduled Operational Audits

  • Provide an objective and professional evaluation of an area, department or functional operation.
  • Provide recommendations to improve the effectiveness and efficiency of operations.

Reviews Requested by Management

  • Provide a limited review of an area performed at the request of a department head or senior management.
  • Provide insight into a specific operation and/or control.

Change in Management Reviews (Transfer Audits)

  • Performed when there is a change in executive management position.
  • Determine if the prior manager followed proper checkout procedures such as returning building keys and purchasing cards.
  • Determine if expenditures shortly before the transfer were appropriate and if account balances are consistent with prior year balances.

Information System Reviews

  • Evaluate the information technology infrastructure of a system.
  • Ensure the security access matrix is adequate and that appropriate access and security exist.
  • Evaluate the system controls, standards, policies and procedures.

Purchasing Card Audits

  • Ensure transactions were appropriate and that proper procedures were maintained.
  • Performed annually on individual cardholders and departments.