Documentation of Internal Audits | Origin: CM101
This is a general discussion forum for the following learning topic:
Internal Audits: Building a Compliant Campus --> Documentation of Internal Audits
Post what you've learned about this topic and how you intend to apply it. Feel free to post questions and comments too.
My takeaway in this section is the need for fact-based auditing. I was happy to read that it is imperative in the audit process that the presentation of information be fact versus opinion-based.
We are being informed that audits should be based on facts and not assumptions. That there should be accountability for audit should
be available in hard copy or electronic form.
Audits should be based on facts. We are required to have a record of an audit in either hard copy or electronically. That errors or ommissions should be fixed or improved in the alloted time.
There was a lot of things about audits that I thought was interesting and new. And there should be accoutable for that certain audit as well.
High School Diploma must be onfile with 30 days of a start,
Comment on Everett Neely's post: It is important to train our staff that audits are black and white, not gray. It is not assumed, it is validated facts
Key take-aways:
- Stick to the facts
- Definitions matter
- Recipients of audit reports should be clearly identified
- Work should "stand alone," i.e. anyone reviewing the document should arrive at the same conclusion using the documentation provided.
- Clearly identify roles and responsibilities to the parties involved in the audit
- Follow through on action plans, require proof of action.
Audits should be based on facts
It is not sufficinet to simply complete an audit. Audit findings shoudl contribute directly to establishing a new process to ensure future compliance so that findings are mitigated.
I learnt that audits should be fact based and not rely on assumptions & resolutions should be made, depending on the issue that needs to be rectified it can take a year or more to resolve.
We must require a "proof of action"!
The internal auditing all aspects comes as good tools in helping educational institutions to be in good standing with the regulators.
I learned that best practice is to have the Internal Audit lead report to the Board Directly rather than to the CEO.
Auditors should not inject their personal opinions into audit findings. The findings should be clearly articulated and based on factual data.
An audit should be able to be conducted based solely on the facts and documents provided and cannot reply on prior knowledge.
Internal audits should be documented and it would be helpful to have a template in place. I do like the approach to include specific positive and negative items throughout the testing process, even though it may take additional time. Also it must have the seriousness of the level of violation and/or a value identifying the level of risk. Once this occurs, action plans should be implemented and follow up to make sure it occured.
Internal audit documentation is crucial for tracking compliance, ensuring transparency, and supporting improvement. It helps record findings, recommendations, and corrective actions, providing a clear trail for follow-up.
