How is an audit comment reported and to whom?
We use a variety of methods for communicating issues/comments back to you and senior management, including:
- Audit Report comment - Comments in this classification are included in the official audit report, and represent items that are either regulatory/policy/legal violations, or present an unacceptably high level of risk of financial loss or adverse public/political exposure. The audit report is copied to immediate area management, and all appropriate University management up to the level of the President, who receives all reports. The report is also sent to the State Board of Regents, and the Auditor of the State of Iowa .
- Management Advisory comment - These are issues that the auditor noted during field work, but they are either outside the established scope of this audit project or are not of immediate concern. However, if they are not addressed in a timely manner, they could potentially have an adverse impact on the operation of the area in the future. This type of item is communicated to management of the immediate area being audited and at least their supervisor.
- Non-reportable comment - These issues are generally minor in nature or scope, but are items that the auditor encountered and of which you need to be aware. They are communicated only to management in the immediate area being audited.