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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