The following processes will be adopted for thematic audits and special audits:
- Initial discussion and research on the audit subject to develop audit objectives and scope.
- Entrance meeting with Department to agree on the audit objectives, scope, timing, personnel involved and other related issues. Management concerns will be incorporated in the project scope, if appropriate.
- Formal entrance letter to Department with copy to the line manager and other relevant parties.
- Interview relevant staff members on procedures and practices.
- Review relevant policies and procedures manual.
- Perform analysis, conduct physical count and sample review, trace to relevant documents and materials, computer systems data and files for verification and substantiation.
- Discuss audit observations, comments and recommendations with responsible staff members and the Head of Department.
- Draft Audit Report to Department to confirm factual details and seek initial comments.
- Finalize Audit Report and send to the Head of Department for written management response and comments within 2 weeks, with copy to the line manager and the respective administrative offices at the end of audit.
- Summarize major audit observations, recommendations and management comments for reporting to the President and Audit Committee.
- Arrange follow-up review based on original/revised estimated completion dates provided by Department.
- Escalate overdue items to line manager, Provost, Vice-Presidents, as appropriate, according to established escalation procedures.
- Summarize the status of implementation of audit recommendations for information of the President and the Audit Committee at the end of the year.