Procedure for Office of Internal Audit Reports

Approval Date: 2017-05-11

Effective Date: 2017-05-11

Responsible Unit: Office of Internal Audit

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1. During the audit, the Office of Internal Audit discusses the preliminary findings and recommendations with the Unit Head and others as appropriate, with the objective of preparing the audit report.

2. A written draft report is submitted to the Unit Head at which time the Unit Head is requested to provide a written response, normally within ten (10) days, and after consultation with the respective Vice-President, as deemed necessary. The response will include comments on each of the findings and recommendations and will specifically indicate acceptance or non- acceptance of each of those. For those findings which are accepted, the response also includes an action plan and timeframe(s) for implementation of the recommendations or alternatives that meet the objectives of the recommendations. For any finding or recommendation where there is non-acceptance, the Unit Head must provide a rationale.

3. The draft report is submitted to the respective Vice-President or the President, as applicable, for endorsement of the Unit Head’s written response.

4. The draft report is submitted to Vice-Presidents Council for its endorsement of the Unit Head’s response.

5. The final report is prepared and distributed by the Office of Internal Audit to all Vice- Presidents, the President, the Chair of the Audit and Risk Committee of the Board of Regents and where applicable, the External Auditor appointed by the Board of Regents.

6. The Audit and Risk Committee may determine that further action is needed. If so, that further action is communicated to the respective Vice-President or President, as applicable.

7. The Office of Internal Audit monitors the status of the action plan and regularly reports progress to Vice-Presidents Council, the President and the Audit and Risk Committee of the Board of Regents.

Policies using this procedure:

Contact

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Tel: (709) 864-2530

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