Annual Audit Plan
Annual Plan Development Process
The goal of the Office of Internal Audit is to develop an audit plan that provides coverage of significant areas of risk, while concurrently providing coverage of a broad range of operations over time. The audit plan represents a guide that will remain flexible to accommodate the Office of Internal Audit's ability to perform audit requests or other projects for the Board of Regents and management of the University of Wisconsin System, its colleges, universities, and extension.
The annual plan development process is a multi-phased collaborative approach that seeks input from key stakeholders within the University of Wisconsin System to identify operational, reputational, strategic, financial, and compliance risks. The process includes (1) performing a risk assessment survey to help identify higher risk areas; (2) conducting risk assessment discussions with a representative selection of key stakeholders throughout the University of Wisconsin System, including members of the Board of Regents, System Administration management, institution management, institutional internal auditors, student representatives, faculty representatives, and academic staff representatives; (3) reviewing Board of Regents policies, University of Wisconsin System policies and procedures, state and federal laws and requirements, and changes therein; (4) considering institutional internal audits and external review activities or inquiries, such as those by the Legislative Audit Bureau and federal oversight agencies; and (5) considering areas receiving attention at other colleges and universities.
To provide recommended topics to be considered during the audit plan development process, please email firstname.lastname@example.org.