KENTUCKY STATE UNIVERSITY Audit Committee Audit Plan for 2011-2012

Audit Focus:

Areas of High Risk:

• Audit of the Aquaculture Program. This audit will include a review of Kentucky State University's (KSU) compliance with federal reporting regulations, time and effort reporting, and lab note documentation. Total number of hours: 250.
• Audit of the small farm. This audit will include a review of KSU's compliance with federal reporting regulations, time and effort reporting, and lab note documentation. Total number of hours: 200.
• Audit of the University's Purchasing Card. A compliance review of charges on selected purchasing card submissions will be performed. Total number of hours: 200.
• Audit of College Work Study. Work time sheets for college work study students will be reviewed for conflicts with classroom hours. Total number of hours: 200.

Follow-up audit of the A-133 audit and management letter findings (made by the external auditor) Total number of hours: 300.

Areas of Medium Risk

• Payroll Audit. The Internal Auditor will assist the Office of Human Resources in performing a payroll audit. The Internal Auditor will audit additional compensation amounts such as overloads and stipends. Total number of hours: 200.
• Student Financial Aid Audit: A compliance review of student financial aid awards such as Pell Grants, Stafford Loans, and other awards will be performed. Total number of estimated hours: 150.

Areas of Low Risk

- TBD, Total number of estimated hours: 150.

Audit Committee July 22, 2011

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