OFFICE OF INTERNAL AUDIT

INGRAM QUICK, CHIEF AUDIT EXECUTIVE

AARON THOMPSON INTERIM PRESIDENT

KAREN BEARDEN BOARD OF REGENTS

Transmittal Letter

July 8, 2016

Dr. Aaron Thompson Interim President Kentucky State University Hume Hall 201 Frankfort, KY 40601

Subject: Fiscal Year 2017 Audit Plan

Introduction

Enclosed is the fiscal year 2017 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 preparation of an audit plan. In accordance with protocol, this plan does require approval by the Board of Regents.

Methodology

The framework for the methodology, and the actual process for developing the audit plan, is explained in the following.

Framework

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

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