Carnegie Mellon University

Annual Audit Plan

Internal Audit (IA) works with various stakeholders to develop and update the Annual Audit Plan by: 

  • Meeting with members of senior management to discuss key concerns.
  • Re-visiting results of university-wide assessments of risk.
  • Considering changing environment and identified issues that could affect the university (see Review Areas for more detail)
  • Integrating planning with external auditors.
  • Incorporating feedback and recommendations from the Audit Committee.

The Annual Audit Plan is then presented for review and approval by the Audit Committee of the Board of Trustees. The Audit Plan Year begins January 1st and runs through December 31st. During this time, a portion of the IA services are provided by in-house resources, while others are supplemented by external, specialized resources.

IA is managed under the direction of the Executive Director of University Audit Services and has a direct reporting line to the Audit Committee of the Board of Trustees to ensure independence from management. IA has an administrative reporting relationship through the Vice President for Finance and Chief Financial Officer.