OFFICE OF INTERNAL AUDIT
M. CHRISTOPHER BROWN II, Ph.D. EIGHTEENTH PRESIDENT KENTUCKY STATE UNIVERSITY
INGRAM QUICK, CHIEF AUDIT EXECUTIVE
August 16, 2017
M. Christopher Brown II, Ph.D. Eighteenth President Kentucky State University
Subject: Fiscal Year 2018 Audit Plan
Enclosed is the fiscal year 2018 audit plan for the Office of Internal Audit. This outlines the activities where internal audit resources will be dedicated. Professional internal audit standards, as well as the Office of Internal Audit Charter, require the annual preparation of an audit plan. In accordance with protocol, this plan does require approval by the Board of Regents.
The framework for the methodology, and the actual process for developing the audit plan, is explained in the following.
This plan was developed using a risk-based methodology. The methodology incorporates the COSO - Enterprise Risk Management framework. This is a risk model commonly used in the internal audit profession. This approach allows for the evaluation of institutional units as well as major business processes in a systematic, consistent framework. By using this approach, the Office of Internal Audit (OIA) is better able to dedicate resources that ensure Kentucky State University achieves its strategic goals and objectives.