Self-Assessment
Whether or not there is a scheduled audit, each department or business unit administrator should periodically assess the internal control environment of their area of responsibility. A list is provided below of some of the major areas that should be reviewed, with links to leading questions relating to those areas and references to the source of the relevant legislation or University policy, where appropriate.
This is not intended to be a complete list of everything to be considered, but rather a very basic guide to the more common internal control concerns. It can be used as a starting point to assess areas of responsibility and gives an indication of some of the issues that may be examined during an audit.
If you have any questions relating to internal control issues, or would like to discuss any issue with us, please email our Helpline at: InternalAudit@ou.edu or call 405-325-3411.
Professional Standards
Internal Auditors perform their audit work in accordance with gennerally accepted auditing standards as outlined by the Institute of Internal Auditors and the American Institute of Certified Public Accountants
Institute of Internal Auditors
American Institute of Certified Public Accountants