Audits are performed in three general phases: planning, fieldwork, and reporting. While auditors usually notify the appropriate level of university management as to the timing, staffing, and scope of engagements included in the annual audit plan, the performance of certain procedures or engagements may be unannounced.
Audit reports are generally addressed to the client management personnel with direct responsibility for the area, function, or department audited, with additional distribution to higher level management. Copies of final reports are typically sent to the executive to whom the individual responsible for the audited area reports, and the Vice President for Internal Administration and Compliance and Chief of Staff. Depending on the subject matter of the report, other individuals may also receive the report. Internal Audit updates the Board of Regents' Audit Committee as needed based on the results of audits performed.