The University of Toledo

Enterprise-wide Risk Assessment

Following is a graphical presentation of scheduling our internal audits, from preparing the annual audit plan to issuing a final internal audit report on a system or process.  On average, 25% of the annual audit plan contains unplanned requests from management.  Internal Audit makes every effort to complete all originally-planned audit work, as well as significant management requests, by the end of the fiscal year. 

You will note that obtaining input from our audit clients and stakeholders is critical to ensuring that the right functional areas are audited each year.  To that end, the Internal Audit Department conducts an annual risk assessment of the entire University of Toledo enterprise.  Attached is a Risk Assessment Questionnaire that we use as a starting point for gathering information from people such as (but not limited to) the University President, key executive leaders, and vice presidents and deans.

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