Frequently Asked Questions

Does the internal auditor work for the University of Hartford?

Yes, the internal auditor is employed by the University. However, the University also hosts external auditors who are not employees of the University. External auditors include public accounting firm professionals, federal and state auditors, and other specialty auditors.

What are the reporting lines for the internal auditor?

Administratively, the internal auditor reports to the vice president for finance and administration. Functionally, the internal auditor reports to the Audit Committee of the Board of Regents.

How does the internal auditor decide who to audit?

The scheduling of internal audit engagements is based on the results of a periodic risk assessment conducted by the internal auditor. Multiple factors are weighed, including input from senior management of the University.

Any unscheduled audits or special projects are sometimes necessary when a matter of concern is brought to the internal auditor’s attention. 

What is a matter of concern to the internal auditor?

Matters of concern include the following:

• Significant and/or repetitive policy violations
• Business improprieties such as corruption, waste or other abuse
• Occupational fraud or theft
• Concerns about operational efficiency

What is occupational fraud?

Occupational fraud is defined as “the use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the employing organization’s resources or assets.”

How do I communicate a matter of concern to the internal auditor?

To report a matter of concern, you may 1) contact the internal auditor directly by telephone, email or in person or 2) call the University's confidential reporting line.

What is the internal audit process?

The following information outlines the auditing process:

• The audit entity is selected based on the risk assessment and the head of the audit entity is notified
• The internal auditor schedules meetings with key members of the entity to obtain background information including organizational charts, departmental procedures and policies, and other pertinent documents
• The internal auditor decides which areas warrant substantive testing and may request additional information in support of this testing
• The internal auditor prepares a preliminary audit report. For each finding there is an Observation (the issue) and a Recommendation (the internal auditor’s suggestion on how to resolve the issue)
• The audit entity reviews the draft report and is encouraged to provide comments on the report’s accuracy, tone and recommendations
• Management’s response to the recommendations is added to the draft report, and it is issued in final report
• The final audit report is presented to the Audit Committee

Why is the internal auditor asking about findings on an audit completed last year?

The Audit Committee has requested annual progress reports on the implementation of audit recommendations. Once the item has been fully addressed, it will be marked as “closed” and then removed from the open items list.