The Nuts and Bolts of Internal Audits | Origin: CM101
This is a general discussion forum for the following learning topic:
Internal Audits: Building a Compliant Campus --> The Nuts and Bolts 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.
I learned about different laws as it pertaeins to compliance and accredidation. Id utilize this information to ensure that I do my part in complying with my states regulations.
I took note of the most cited issues by ED. Gonna pay close attention to those so we don't make similar mistakes.
It is often thought that we need to do a full audit, but the idea of setting up an audit schedule, focusing on different departments each quarter will be most helpful.
This is my take away. When prioritizing, some things to consider include:
- Areas of high-performance expectations
- Areas commonly cited within the industry
- Areas where there have been repeat findings (internal and/or external)
- Areas with unproven management control systems/mechanisms
The most cited ED findings was most useful.
I found the areas of audit citings to be very helpful in our own internal audits.
Also, not all auditing entitites use the same "definition" in wording.
It is very important to monitor (audit) what is happening within your institution.
Great info.. It is ok to have these documents accepted electronicaaly as well.
The informaion provides was very helpful.
Will pay close attening to the top 10 Audit findings. Especially to the Retun of Title IV Funds Calculation Erros.
So far the information is very obvious, nothing new to learn.
There are a lot of regulatory bodies that one has to be aware off.
It's common sense if you have been in the industry for some time. It is a matter of ensuring accountability with the management team. Crossing T's and dotting I's.
As a registrar my motto is always that the catalog is our bible. We need to ensure we are following the policies we have and provide clarification for any policy that can be interpreted in different ways.
I’ve learned that different accreditors, regulatory bodies may have different requirements & or guidelines regarding what is and how areas of a school may be audited
I learned the various process of an audit. What to do and expect from an auditor. This process will be applied to upcoming audits.
I learned about the different types of audits and the importance of language used by each department that may mean the same thing but different words are being used. I plan on looking at this to see how to better communicate with one another.
I learned that preparation is key. Campus rules should be in order since this can be used as a guide for auditors. Auditors should be able to explain their calculations for the audit. Most importantly follow up. If it is to correct actions or start new issues. Follow up to ensure that it is complete.
Taking note of the top 10 audit findings!
I was particularly interested in the sample audit forms and procedures being categorized and in an itemized format which made it easy to follow and the said format could be used for generating files to correlate groups of documents in preparation for inspection as well as for use by Government and local officials to ensure compliance with State and Federal requirements.
