Risk Assessment proposes future audits for UM

Posted to Live Blog: UM system Board of Curators meeting by Josh Barone at 11:55 a.m., Oct. 23, 2008

The Internal Audit report presented to the Board of Curators showed plans for future audits based on current financial risks.

According to the Internal Audit Report, of 66 action items scheduled from 22 audit reports, 11 items have not been closed as of Sept. 12, 2008. However, there are no unresolved items for MU.

All items on the 2009-2011 Risk Assessment list are either high or medium concerns. Planned audits for MU include PeopleSoft Student Module Post-implementation, Advancement Office, Incentive Plan Review and Sponsored Research Compliance.

Curator Warren Erdman said due to time and funds, the curators should assess which issues are more important than others and work from there.

“No matter how many resources you have, you can only have so many audits,” Erdman said.