Office of Internal Audit Kentucky State University Audit Follow-Up of Bursar Office Review issued January 2016

Scope and Purpose

Below is the audit follow-up of the Bursar Office Review issued January 2016. It encompasses significant issues identified during the audit and provides feedback to stakeholders on the progress of implementing management's corrective action plan. Not only is this a strong governance and risk management practice, it is also included in the Charter for the Office of Internal Audit.

The status of corrective action will fall into one of the following categories:

• The corrective action has been implemented. This means management has implemented the corrective action plan and an assessment was performed by the internal auditor to evaluate its effectiveness.
• In process. This means that some corrective action has been implemented but not completed.
• No action taken yet. This means that corrective action has not been evaluated, planned or implemented.
• Assumption of risk. This means that corrective action has been evaluated and no further action is intended. The department assumes the risk associated with the issue.

There has been progress in addressing the issues through implementation of corrective actions. While the Office of Internal Audit does not implement the corrective actions, the office is often the catalyst for change that results in a more efficient and effective organization. I will continue to work with the necessary departments to ensure significant issues and risks are addressed. My intention is to follow-up on outstanding issues periodically (e.g., quarterly) until corrective action has been implemented and assessed for effectiveness.

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