FAQ
- When should I contact Internal Audit vs. Corporate Compliance when I have issues?
A: Internal Audit deals with financial related and governance issues, such as evaluation of policies and procedures, internal control evaluations, proper financial reporting and tax issues, investigations related to concerns of financial misrepresentation, and investigations of theft of cash or organization assets in conjunction with Security. Compliance assists with areas related to regulatory requirements other than Research Integrity, such as patient privacy and information security, billing and coding issues, vendor relationships, avoidance of inducements, and other areas covered under each organization’s compliance plan. If you are unsure, feel free to contact either department; we will ensure the issue is referred to the appropriate department.
- What should I do if I suspect fraud or unethical behavior?
A:- Contact your unit / department manager. He / she will address the issue by contacting internal audit, security, and/or compliance.
- If you are uncomfortable with contacting your unit / department manager, please contact either Internal Audit at x55630 or the Compliance Reporting Hotline at 800-249-9953.
Remember, that you are the organization’s first line of defense in ensuring the organization’s assets are safe. If you are uncomfortable with a situation, how transactions are being processed, it may be as simple a matter as the need to reevaluate the process to ensure adequate steps for security are in place. We are prepared to assist in investigating that process to determine the extent, if any, assets are lost.
For more information visit our Fraud page.
- What are good internal controls? Why should I be concerned?
A: Internal controls are the processes designed by the board of directors, management, and other personnel to assist the organization in accomplishing its goals or objectives by means of 1) effective and efficiency of operations, 2) reliability of financial reporting, and 3) compliance with laws and regulations. Internal Audit assists the organization in evaluating the effectiveness of control systems and makes recommendations to management for improvements, as identified. The Committee of Sponsoring Organizations of the Treadway Commission (COSO) provides key guidance in defining what constitutes key controls and considerations. See the COSO resource link under Resources.
- How do you decide what to audit?
A: Internal Audit performs an annual risk assessment of the organization and develops an annual audit plan, which is approved by the Audit Committee. In addition, Internal Audit responds to special requests from management and external auditors. If you have any items you would like Internal Audit to specifically consider in our audit plan, please email us at apaolini@llu.edu. Your input is confidential and is important to us.
- What does a typical internal audit include?
A: Common elements of an internal audit engagement include the following:- Scheduling an opening conference to discuss audit objectives, timing, and intended report format and distribution
- Evaluating internal control systems
- Testing to ensure proper operation of internal control systems
- Developing conclusions based on test results and reporting on observations/recommendations
- Reviewing audit issues and draft audit reports with management and staff
- Preparing and distributing an audit report which generally include management's responses to the issues raised
- Following up to ensure all issues raised in audit reports have been addressed
- How can I request services from internal audit?
A: Contact Andrea Paolini at 909-558-5630 (ext. 55630) or apaolini@llu.edu. Please provide:- Primary contact name and phone number
- A description of the service you would like
- Any specific concerns or issues you have identified
- The timeframe in which you need the project complete
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