FAQs

Why am I being audited?

The audit planning process leverages a wide variety of internal and external inputs and interaction with senior leadership and management.  The most significant input was the collaboration with University Ethics and Compliance (UEC) on Enterprise Risk Management considerations, which span the entire institution and incorporate both bottom-up and top-down input from a wide cross-section of process owners and leaders. We also incorporate key executive input specific to their initiatives and risks as well as prior audit and advisory results and trends.  Finally, we leverage a variety of inputs from external organizations such as regulatory bodies (e.g., NCAA, OIG, etc.) as well as national peer group organizations such as the Association of College and University Auditors (ACUA), the Association of Healthcare Internal Auditors (AHIA), as well as the Ivy Plus and Big Ten Chief Audit Executive networks, to identify common areas of focus or concern to consider. 

These inputs are evaluated on an annual basis and incorporated into an Annual Audit Plan to align AAS priorities with Rutgers' overall objectives and key risk areas.

How can I prepare for an audit?

First and foremost, do not worry! Regardless of why you are being audited, we are here to help. We will walk you through each step of the process and can answer any questions you have along the way. If you'd like to do some initial preparation prior to the official start of a review, below are a few things you can do: 

  • Gather job descriptions for any position that are involved with the processes in scope of the review
  • Make sure your organizational chart is current and readily available
  • Collect any internal policies and procedures utilized for the process under review
  • Review our Audit Process page to get a better understanding of each phase of the process

How long will an audit take?

The length of time it takes to complete an audit varies significantly. The time required for the audit depends on the scope of the review and consideration of relevant systems, records, and personnel access. 

What is the audit process?

The audit process is broken down into five main phases:  

  • Scoping
  • Planning
  • Conducting
  • Reporting
  • Stakeholder Review
  • Follow-Up

See the Audit Process page for a detailed description.

Can I share confidential information with my auditor?

Yes! The Audit and Advisory Services department charter states that the department is "authorized full, free, and unrestricted access to any and all of Rutgers records, physical properties, systems, and personnel necessary in achieving its goals".

This includes access to medical information as we are a hybrid HIPPA covered entity. The audit teams limit their review and possession of documents on an as-needed basis. For any information that is retained by the audit team, it is held completely confidential and secure. 

Finally, our audit reports are considered confidential and can not be obtained through an OPRA request. 

Who will receive a copy of my audit report?

The final audit report is provided to the President, Board of Governors' Committee on Audit, and other governing parties at the university.

What are internal controls?

Internal controls are designed to provide reasonable assurance regarding the achievement of objectives in the following areas: effectiveness and efficiency of operations, the reliability of financial and administrative operations, compliance with applicable laws and regulations, and safeguarding of institutional resources. Examples of key internal controls are listed below.

  • Identify all significant activities or processes for which your department is responsible. Documenting these processes is an excellent starting point for determining and evaluating where risk and internal control weaknesses exist. 

  • Implement an adequate segregation of duties. No single person should have control over all aspects of any financial transaction or process. 
  • Verify all transactions are authorized and appropriately approved.
  • Verify all records are reviewed and reconciled by someone other than the preparer.
  • Employees should have appropriate training to carry out their job duties and have an appropriate level of supervision.
  • Formal policies and procedures should be documented and communicated to all employees. Be sure to revisit policies and procedures periodically to ensure they remain current. 

How else can Audit and Advisory Services assist me?

We do more than just audits! For more information on how we can serve your unit, see the Our Services page. 

I have a financial concern...what do I do?

If you find yourself in a situation and you don't feel comfortable raising the concern with your supervisor or manager, you can report your complaints to the Rutgers Compliance Hotline. Concerns can be filed anonymously, 24/7.