Audit Plan
Every year, Internal Audit performs an annual risk assessment to determine the annual audit plan. The primary goal of the annual risk assessment is to identify audit topics that will provide value and assurance on operating effectiveness of key operations at SOU. The annual risk assessment and audit plan are presented to the Board of Trustees for approval.
Internal Audit Plan
July 1, 2024 through June 30, 2025
| Audit # | Engagement Title | Hours* | Timeframe** | Comments |
| Annual Risk Assessment | FY24 Annual Risk Assessment | 40 | June 2025 | Required annually by IIA auditing standards. |
| Planned Audits | ||||
| 2025-1 | Workday Implementation – Consulting Review Cont. | Estimated at 250 hours | July-June 2025 | |
| 2025-2 | STARS Audit | Estimated at 80 hrs | Oct 2024-Feb. 2025 | |
| 2025-3 | Athletics | Estimated at 250 hrs. | Nov. 2024 -May 2025 | |
| Other Services | ||||
| SPECIAL REVIEWS | Special reviews | 50 | Fiscal Year 2025 | Investigative reviews as requested by mgmt. |
| CONSULT | Consulting Work | 55 | Fiscal Year 2025 | Consulting work as requested by mgmt. |
| Total Audit Hours for FY 2025 | 725 | |||
* Hours may be adjusted as needed based on scope and objectives of the planned audit and potential issues identified during fieldwork.
** Dates may be adjusted as needed to avoid a negative impact on SOU projects, available staff and resources.