My biggest concern being next to an audit is to have all documents in correct order so that the auditors may have better access to all data.
Elizabeth,
Our organization maintains all records in electronic format and utilize a program we designed - Audit Version to retrieve the electronic file documents for SFA Audits and all reviews for our clients. This allows the audits to provide a list of students selected for sample and allows us to provide the audits with access to those files through the audit version program. The auditors are able to review all electronic documents collected or completed by the student and test compliance of the individual documents and overall file compliance.
Sincerely,
Chyrl Ayers
I have read through existing posts before responding. I found two themes interesting and helpful: that of consistent organization of files and regular file reviews by the FA office team.
Our university has moved to electronic file maintenance so I am wondering if folks could weigh in on how they have approached audits in a paperless environment and electronic file storage?
Thank you in advance for sharing both best practices and lessons learned.
Todd, It is best to always try to look for the positive aspects of an audit. It provides an opportunity to see what you are doing on a day to day basis is correct. It also provides you with an opportunity to strengthen your internal processes and procedures. An open and positive attitude will go a long way to ensure you end up with a clean audit.
Thanks and good luck,
David McGuffee
Motives, internal or external. Are they instructed to find exceptions at all costs? Why does there always seem to be a mystery man behind the curtain, that they have to check with. Can we cut out the middle and speak to the source?
Susan, I agree totally with you. Organization and attention to detail are valuable tools to utilize during the year. Pre-audits and internal checklist can also be very beneficial as you go through each audit cycle of the year.
Regards,
David McGuffee
My greatest concern is trying to anticipate the needs and requests of the auditors. To handle this concern, I try to ensure all records and additional information is properly organized and maintained, not only through out the year, but also prior to the audit. After undergoing several audits, you start to notice patterns of information needed and can ensure that the information is readily available. Being organized and paying attention to the details is critical.
Michael,
All of these are great suggestions from a rolling audit to varying the staff reviewing the students' files. Repeat findings can be viewed negatively, therefore, any action to prevent is worthy.
Sincerely,
Chyrl Ayers
My biggest concern is seeing the same auditors from last year and having them pick up a repeat finding. The easier way to handle this is to do a rolling audit. The internal audit process should be continuous. Get a fresh set of eyes on each student file periodically. One person might pick up something that another missed the first time around. Failing to prepare is preparing to fail.
Gabrielle,
I think the process of a pre-audit or internal checklist can be very beneifical as you go into the annual audit cycle each year.
Sincerely
Chyrl Ayers
The greatest concern would be that the student files would be missing important information. We are very detailed in our pre-audits to insure our files are complete to prevent a bad audit.
Sparky,
The approach to insure you have a workflow plan to identify all required documents, collect and properly maintain is the best methodology to utilize. If you have a plan in place to insure these items occur you should be able to maintain the documents in a manner to protect the student and campus. I would encourage you to set some type of review process to verify that your controls are being followed.
Sincerely,
Chyrl Ayers
Our management is hoest to a fault, so I hav no fear that an audit wil find any fault in the way we do business. My concern it that could be missing or misplaced documentation. Since we are new, small and wear multiple hats, something could slip through the cracks or a deadline may be missed. That is why we are taking great pains to see that all paperwork is processed timely and with controls.
Maureen,
I agree with your comments. It is important to ensure that all documentation requested by the auditor is secured, accurate and complete. The organization necessary for a successful audit is critical to make the experience productive for your institution and the audit team.
Sincerely,
Chyrl Ayers
My greatest concern is to be sure all of the information, documentation, and files requested prior to arrival are available for auditors, organized in an effective manner, and in a secure workspace for the audit team. Any additional requests made during the audit are gathered and provided as soon as possible during the audit.
We do internal audits on a yearly basis, as well as review all of our files and reports monthly to ensure that if we were ever to have auditors in house, they would be in and out bc we are over-complaint. It is not a huge concern, we are pretty small and stay on top of things.
Elizabeth,
Your practice is a sound way to ensure all documents required are present in the students' files. It is always good to have second set of eyes to re-review the students' files to guarantee all documents required are present and no conflicting information exist. This additional review should provide you with assurance that all departments have completed their portion of the file collection process prior to the audit.
Sincerely,
Chyrl Ayers
My response will seem redundant as everyone else seems to have similar practices. Our student files are set up in a specific order, behind a checklist that shows the order and that all documents, payments, ID, etc...have been received. We also have a Missing Items list that we use prior to the start of a class which really helps us get those items that just may be missing from a few files. As we get them, we update that list until there are no missing items. After one person reviews the file, another will double check it. Once it's time for an audit, we are usually good to go! Of course, a final review doesn't hurt.
Alexander ,
That is a concern that most of us face at the college level. When I worked in a college we had a Catalog Committee that met with any changes and determined if addendums were needed or handouts, etc to ensure our students had the most up-to-date version of the catalog. This method worked for us and prevented oversites.
Sincerely,
Chyrl Ayers
My biggest concern are updated policies and procedures in the Catalog. From time to time, a policy or procedure has been implemented as part of your catalog, but may have not been updated in the most recent catalog in a timely manner, or addendums are not crystal clear.
