Examine the use of resources to determine if resources are being used in the most effective and efficient manner to fulfill the University's mission and objectives. An operational engagement includes elements of the other engagement types listed below.
Review accounting and financial transactions to determine if commitments, authorizations, and receipt and disbursement of funds are properly and accurately recorded and reported. This type of engagement also determines if there are sufficient controls over cash and other assets and that adequate process controls exist over the acquisition and use of resources. Unlike external financial audits, internal financial engagements do not prepare or express professional opinions on the financial statements fairness.
Determine if entities are complying with applicable laws, regulations, policies and procedures. Examples include federal and state laws, Trustee policies, Chancellor's Office directives, and UTHealth policies and procedures. Recommendations usually require improvements in processes and controls used to ensure compliance with regulations.
Internal Control Reviews
Focus on the components of the University's major business activities, such as payroll and benefits, cash handling, inventory and equipment, physical security, grants and contracts, and financial reporting.
Information Systems (I.S.) Engagements
Review the internal control environment of automated information processing systems and how people use these systems. The engagements usually evaluate system input, output; processing controls; backup and recovery plans; system security; and computer facilities. These engagements may review existing, as well as, developing systems.
System Development and Implementation Review
Provide input into the control aspects of major information systems development projects. This input is designed to provide important feedback during the formative stages of information systems projects.