Annual Report on Internal Audit Activities2007-08.ppt

III. Internal Audit Program—Benchmarks Improvement Initiatives CARTS The systemwide audit program is in the midst of a project to improve our internal project management and reporting capabilities through development of web based modules for time reporting, project management, quarterly reporting to the University Auditor and management of MCA’s. The initial module is in use at several locations and all of the system’s capabilities are expected to be rolled-out during the current year for full utilization by the beginning of the next fiscal year. IIA Research Project The auditing profession has long struggled with the question of how to determine the appropriate staffing level for an audit program. The existing benchmark data tends to consider organization size as the only driver. There is an increasing awareness that risk varies considerably within comparably sized organizations and that audit staff size should be related more to risk than size. In addition, the creation of compliance and ethics programs have served to somewhat change the role of internal audit for many institutions. UC, in partnership with the Institute of Internal Auditors Research Foundation and the Association of College and University Auditors is sponsoring an academic–led research project to identify improved measures of staffing adequacy factoring in more variables than organization size. The results are expected in the winter of 2009. UCB UCD UCI UCLA UCR UCSB UCSC UCSD UCSF LBNL Chancellor Birgeneau Interim Provost and Executive VC Horwitz Vice Chancellor Brase Vice Chancellor Olsen Vice Chancellor Bolar Vice Chancellor Carpenter Vice Chancellor Vani Vice Chancellor Matthews Interim Vice Chancellor Lopez Laboratory Director Chu The Regents’ Committee on Audit EVP, Business Operations K. Lapp University