"FAQ" -- 20 Questions for Internal Audit

1. How can I benefit from an internal audit?

2. Who gets copies of the audit report? What about confidentiality? Can anyone see the auditor’s report?

3. What can I do to help Internal Audit achieve its mission?

4. Will I get in trouble should issues be identified during an internal audit?

5. Why did I get selected to be audited? Does it mean I’m in trouble?

6. Can I prepare for an internal audit? How?

7. Who can request an internal audit at UToledo?

8. Do you ever follow up on findings raised during previous internal audits?

9. I understand that Internal Audit will help me manage the risks in the area. So what exactly is a “business risk”?

10. What is the purpose of the UToledo Athletics Compliance function?

11. Shouldn’t the UToledo Internal Audit and Compliance functions be separate? In what ways can they collaborate?

12. What are the “lines of business” within UToledo Internal Audit?

13. What is a Control Self-Assessment? How does it differ from an audit?

14. What performance measures does UToledo Internal Audit have in place to measure its success?

15. What is the process for communicating audit results and issuing a UToledo audit report?

16. What does UToledo Internal Audit do to ensure that it is not perceived as “the police”?

17. Does UToledo Internal Audit ever get audited? If so, by whom?

18. What qualifications are required to become an internal auditor?

19. What is the difference between internal auditors and external auditors? Don’t they look at the same stuff?

20. What is the Anonymous Reporting Line? When could I/should I use it?

If you have a question that is not listed on this page, or you would like clarification for one of the answers on this page, please contact us at  AskTheAuditor@utoledo.edu