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Queen's University
 

Internal Audit

Selection of a Departmental / Unit Audit

  • A risk assessment of all units in the University (academic, administrative, research and ancillary) is performed annually.

  • The risk assessment encompasses a number of factors including: professional judgment;  discussions with senior management;  a review of the nature of the operation; external or internal factors that might affect the risk;  the volume of transactions;  the complexity of the systems.

  • A weighted risk score is assigned, and this, along with professional judgment, is used to rank the priority of departmental audits.

  • An audit plan is developed.

  • The Audit Committee of the Board of Trustees approves the audit plan annually.

NOTE: As the University considers adopting an Enterprise Risk Management process, the above risk assessment process will change.

Kingston, Ontario, Canada. K7L 3N6. 613.533.2000