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University of Minnesota

Office of Internal Audit

1300 S 2nd St, Suite 510
Minneapolis, MN 55454

612-625-1368 (phone)
612-625-1512 (fax)

Internal Audit Annual Plan Year 2018

FY2018 Audit Plan

Taking into consideration the risks identified externally as well as internally, and balancing all of the above with our available resources, the audit plan recommended for FY 2018 includes the following:

Audits Process/Unit Risk Area(s) Covered
High Risk Audits
Human Subjects (TBD) Process Human Subject Research*, Research, AHC, Technology, Compliance
College of Education Unit Financial Management, Research, Compliance, Technology, Student Experience, Federal Research Funding*
Global Programs and Strategy Alliance Unit Financial Management, Research, Compliance, Student Experience
Athletics (TBD) Unit Athletics*, Compliance, Student Experience
AHC IS Unit IT Infrastructure*, Technology, Data Privacy/Security*
University Information Security (UIS) Unit IT Infrastructure*, Technology, Data Privacy/Security*
OIT Account Management System IT Infrastructure*, Technology, Data Privacy/Security*
Moderate Risk Audits
Chemical Engineering and Materials Science Unit Financial Management, Research, Compliance, Technology, Student Experience, Federal Research Funding*
College of Continuing Education Unit Financial Management, Compliance, Technology, Student Experience
HHH School of Public Affairs Unit Financial Management, Research, Compliance, Technology, Student Experience, Federal Research Funding*
School of Nursing Unit Financial Management, Research, Compliance, AHC, Technology, Student Experience, Federal Research Funding*
Radiology/Ctr. for Magnetic Resonance Res Unit Federal Research Funding*, Financial Management, Compliance, AHC, Technology, Research, Human Subject Research
University of Minnesota Morris Unit Financial Management, Compliance, Technology, Student Experience, Campus Safety*, Student Enrollment*
Scholarships and Fellowships Process (1) Financial Management, Compliance, Student Experience
Public Safety Unit Campus Safety*, Financial Management, Student Experience, Technology
UMD Police Unit Campus Safety*, Financial Management, Student Experience, Technology
UMD Housing Unit Campus Safety*, Financial Management, Student Experience, Technology
Bookstores Unit Financial Management, Technology, Student Experience
Consulting Contracts Process Financial Management
Utilization of Fed/State Contracts Process Financial Management
Human Resources Family Medical Leave Act Process (1) Compliance, Financial Management
NCAA Compliance Sport Audit Unit Athletics*, Compliance, Student Experience, Student-Athlete Health and Safety
Low Risk Audit
Neurosurgery Unit Federal Research Funding*, Financial Management, Compliance, AHC Research
Governance Audits
Executive and Regent Expenses Process (1) Financial Management, Leadership, Governance
Board of Regent Compliance with Policies Process Leadership, Governance
Gift Testing Process (1) Financial Management, Governance
OIT Network Upgrade (non report) System Technology, IT Infrastructure*

* This risk is included on the Institutional Risk Profile (Appendix A)
(1) Testing in individual units is planned during this process audit

 

FY 2018 AUDITS BY TYPE OF AUDIT

audittype

 

The proposed audit plan includes 8 process audits (30%), 17 unit-based audits (63%), and 2 system audits (7%). Four (50%) of the process audits will involve unit-level audit testing. One of the process audits is considered high risk. The proposed audit plan also includes significant coverage of selected risks included on the Institutional Risk Profile.

The FY 2018 plan continues to provide well-balanced coverage across the University. The following chart shows the distribution of audit coverage by University components for FY 2018, based on the number of hours allocated to each component.

FY 2018 AUDIT COVERAGE BY UNIVERSITY COMPONENTS

UComponents

 

The proposed FY 2018 internal audit plan appropriately allocates the University's finite audit resources to a well balanced portfolio of audits which address areas identified as being of significant risk, provides coverage across the breadth of the institution, and will provide information to help inform leadership and governance discussions.

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