Internal Audit Overview UTHSC Business Managers’ Meeting Amy Wilegus

Internal Audit Overview UTHSC Business Managers’ Meeting Amy Wilegus July 2018

Agenda Introductions Internal Audit Overview Internal Controls Discussion

Introductions Luanne Gillock, CPA, CIA, CFE Auditor II First week with UTHSC Over 20 years of internal audit experience, including healthcare auditing at Baptist and St. Jude Taylor Ansel Audit Intern Senior, Rhodes College Business & Spanish Majors with Concentration in Accounting Summer & Fall 2018

Office of Audit & Compliance Sandy Jansen, CIA, CCSA, CRMA Chief Audit and Compliance Officer Amy Wilegus, CPA, CISA, CISSP, CRISC Audit Director West Tennessee Bobby Bruce, CA Auditor II Luanne Gillock, CPA, CIA, CFE Auditor II Taylor Ansel Audit Intern Amy Wilegus 901-448-1435 [email protected] Luanne Gillock 901-448-5572 Bobby Bruce 731-881-3100 [email protected]

Audit Planning IIA Auditing Standards require annual risk assessment, audit plan development and independent approval Obtain input from senior leaders on key risks Develop risk-based audit plan Obtain UT Audit Committee approval of audit plan

2018 Audit Plan Department audits Key areas in scope: Equipment inventory Department ledgers

Equipment Verification Verify Item description Location Tag number Serial number Changes were submitted timely Policies FI0605-Equipment FI0600-SME FI0610-Surplus Property FI0131-Property Losses FI0130-Fraud, Waste & Abuse

Common Discrepancies Faculty taking equipment with them to new university May 2018 Bottom Line newsletter (Policy F10605 Equipment, Section - Disposal 18G - Removal of Equipment Purchased with Grant or Contract Funds) Requires CBO approval, letter of acceptance from acquiring university, & Form T-64. Missing tag number Incorrect serial number

Department Ledgers Required monthly review and approval Policies: FI0110 (fiscal & budgetary management) FI0115 (ledger reconciliation) FI0150 (approvals)