Audits are determined by the development of an audit plan that is prepared prior to the end of the fiscal year. Audits that are either required by state law or TBR are given top priority.
Initially, a letter is sent to management informing them that an Office or “process” will be audited. This letter will state the timing of the audit, the audit’s scope and any additional items needed from management.
Once the audit has begun, questions will be asked to determine existing internal controls over the area being audited. Sometimes an "internal control questionnaire" will be used. Next, the actual tests and analyses that are needed will be determined.
The next phase will document the work performed on what is called “workpapers”. This phase is the most time consuming and may take longer than what is expected or desired. This documentation is used as proof for what appears in the report.
A draft report is prepared and is distributed to management for discussion purposes. Management is given an opportunity to respond to any findings and recommendations. Our goal is to give assurance to management that strong controls are in place and working. You can expect a heads up on any potential weakness we run across, but we are not "out to get" anybody. We desire that the college operates in the most efficient and effective way possible.
A final report will be issued. Copies of the final report may be sent to the Board of Regents and the Division of State Audit.
Internal audits at Roane State Community College typically include the following: