Department of Internal Audit and Compliance

Why did I get selected to be audited?   Does it mean I'm in trouble?

The majority of UT’s internal audits are planned for well in advance.  We use a risk assessment process that incorporates feedback from management and the Board on areas of concern from existing operations or new initiatives.  We remain flexible to accommodating requests for new audit work with reason.  Audits typically are not scheduled due to discomfort with a particular employee.  The following are among the factors we in UT Internal Audit use to assess risk:

• Dollar Materiality
• Transaction Volume
• Internal Accounting Controls
• Loss Susceptibility/Experience

Wealso consider the last time an audit was conducted in your area and the dependency of the area to other UT departments.  In addition, we consider the role of information technology within the area and other external factors, including the regulatory climate.  While determining what gets audited is admittedly an inexact science, given the number of stakeholders we engage for feedback, we are confident that we audit the right areas every year.  While your area may have been selected for an audit, it does not mean that you personally are in trouble or have done anything wrong.

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Last Updated: 5/18/15