We provide independent and objective services that add value and help improve South à£à£Ö±²¥Ðã State University’s operations and help evaluate and improve the effectiveness of risk management, control and governance processes.
Assurance Services
Financial Audit
- A financial audit is a historically oriented, independent evaluation performed for the purpose of attesting to the fairness, accuracy and reliability of financial data. The central objective is to ensure that the financial activity of the department, unit or area is completely and accurately reflected in the appropriate financial reports.
Operational Audit
- An operational audit evaluates performance of a particular function or department to assess its efficiency and effectiveness. Financial data may be used, but the primary sources of evidence are the operational policies and achievements related to organizational objectives. Internal controls and efficiencies may be evaluated during this type of audit. Some areas of operational audits include: organizational structure, processes and procedures, accuracy of data, management and security of assets, staffing and productivity.
IT Audit
- An Information Technology (IT) audit evaluates controls related to the institution’s automated information processing systems. The information technology audit function develops audit programs to assess, evaluate and make recommendations to management regarding the adequacy of internal controls and security inherent in an organization’s information systems, and the effectiveness of the associated risk management. The goal is to ascertain that IT systems are safeguarding assets, maintaining data integrity and efficiently operating to achieve business objectives.
Compliance Audit
- A compliance audit evaluates an area’s adherence to established laws, standards, regulations, policies and/or procedures. Compliance audits are done because of a policy or statutory requirement. While the audit is done for regulatory reasons, the objectives are still to ensure adequate control over an important internal process.
Follow-Up Audit
- These are audits conducted approximately six months after an internal or external audit report has been issued. They are designed to evaluate corrective action that has been taken on the audit issues reported in the original report. The purpose of a follow-up audit is to revisit a past audit’s recommendations and management’s action plans to determine if corrective actions were taken and are working, or if situations have changed to warrant different actions.
Investigative Audit
- This is an audit that takes place as a result of a report of unusual or suspicious activity on the part of an individual or a department. It is usually focused on specific aspects of the work of a department or individual. Investigations are conducted to determine the extent of loss, assess weaknesses in controls and make recommendations for corrective actions.