The combination of our initial risk assessment and discussions with management resulted in our proposed internal audit plan. We have developed a rotation plan with the objective of touching most areas within a three-year period:

Transaction Cycle/Area Fiscal 2012-2013 Fiscal 2013-2014 Fiscal 2014-2015

General Control Environment (GC) X

Student Financial Aid (SFA) X X X

Land and Other Grants (G) X X X

Capital Assets (CA) X

Information Technology (IT) X

Purchasing, Accounts Payable, and Disbursements (PA) X

Payroll and Personnel (PP) X X

Financial Reporting (FR) X

Travel & Entertainment (T&E) X X X

Auxiliary Enterprises (AE) X

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