Internal Audit Department
Old main, Rm 415
1000 E. University Ave
Laramie, WY 82071-2000
Phone: 307-766-2385
Fax: 307-766-3288
Internal Audit is here to help. We are part of UW and are mainly interested in helping you avoid problems in the future by ensuring processes, procedures and policies are adequate. When you are audited by Internal Audit the goal is to ensure that risks to the Institution as well as your area are mitigated or eliminated. With that in mind Internal Audit performs a risk assessment each year to determine the audit schedule. This audit schedule is reviewed and approved by the University of Wyoming President, Executive Council, and Board of Trustees Business and Legal Affairs Sub-Committee. Some questions that usually arise when an area is to be audited are addressed here.
Departments are selected for audit based on various criteria. The Internal Audit Department conducts a risk assessment of all departments and/or major programs of the university on an annual basis. We also conduct interviews with Vice Presidents and other key University personnel to note areas of concern. A department can also request an audit as a means to detect areas for improvement.
The auditor will discuss any errors detected with the staff and managers at the time of the audit. Our approach to auditing is very open and we will always keep management informed of all matters throughout the audit.
The audit is presented to the Finance and Legal Affairs Committee (FLAC) of the UW Board of Trustees. Copies of the report are also distributed to the President of UW and the appropriate Vice President.
The areas to be tested are dependent on the activities of the department. The most common areas to be tested are:
Internal Audit is granted the authority to review all parts of the institution and shall have full and complete access to any of the institution’s records, physical properties and personnel. (See Audit Charter) Documents and information given to the auditors during a periodic review will be handled in the same prudent and confidential manner as by those employees normally accountable for them and exercise discretion and assure the safekeeping and confidentiality of audit matters.
WyoCloud provides the official accounting records for the University. If you choose to utilize a “shadow system”, the system MUST be reconciled to WyoCloud on a monthly basis to ensure accuracy and completeness. This is critical if management utilizes this “shadow system” to make management decisions.
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Internal Audit Department
Old main, Rm 415
1000 E. University Ave
Laramie, WY 82071-2000
Phone: 307-766-2385
Fax: 307-766-3288