INTERNAL AUDIT (AUD)
PROCEDURE 4
Effective Date: 07/01/1996
Last Modified Date: 06/08/2004
Procedure Summary
Tthe IIA's Standards for the Professional Practice of Internal Auditing require that "internal auditors should determine that corrective action was taken and is achieving the desired results." On a periodic basis, the Internal Audit (IA) department will review the status of previously reported findings to determine if those issues have been corrected. This review may be done on an audit-by-audit basis or as a single project in which the status of all outstanding (uncorrected) findings is reviewed.
Procedure Steps
- On a periodic basis, IA will contact managers of units with outstanding audit comments. The manager will be provided with a summary of each outstanding comment. The manager should provide a brief statement about the status of the issues that led to the original comment. See AUD Appendix 2, IA Request for Corrective Action Report, for a copy of the form used to provide this information.
- IA staff will review the information provided about outstanding findings and determine the level of testing needed to confirm the status of findings. If any testing is necessary, the audit staff will contact auditee management to arrange a convenient time for this work to be done.
- At the end of each follow-up review, a report will be issued in accordance with AUD Procedure 2, Audit Reports and Management's Responses. This report will express an opinion about whether sufficient action has been taken to correct previously reported findings. The Findings and Recommendations section of the report will provide a summary of the status of any outstanding findings and will clearly identify any items where the original projected completion date has not yet passed.
The Internal Audit section is issued under the authority of Phyllis C. Petree, Director of Internal Audit, who reviewed and approved this statement on June 8, 2004.
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