Our audit process is meant to facilitate our understanding of the risk and controls within your department. This typically requires us to hold discussions with process owners to gather this information before so that we can determine the most critical areas for the success of your department.
UWI Audit is required under the Financial Code to review all aspects of the University’s Operations and have unhindered access to information that is relevant to our reviews.
Absolutely. A department is free to request an audit of any kind. UWI Audit will assess the request and based on available resources will determine how it can be scheduled. Note, however, that our assessment and discussions with you can reveal that an audit may not be necessary.
When UWI Audit identifies a control deficiency or non-compliance, an audit issue is raised and discussed with the audit client. These deficiencies or areas of non-compliance can be included in UWI Audit’s published report along with agreed-upon Management Action Plans to address.
After an audit is complete, an audit report is compiled which includes priority-rated audit issues, as well as suggested actions to remediate the issue. Then Management will implement these actions to resolve the issues within the agreed timelines and upon completion will report this to UWI Audit.
The primary recipients of an audit report are the Engagement Manager, the Engagement Senior Manager (if applicable), the Campus Principal, the Vice Chancellor, the Audit Committee and the External Auditor. Other recipients may receive a copy based on their relationship with the audited entity.
Improvements to Governance, Risk Management and Internal Control processes.
