University of Pittsburgh

Audit Scope and Objectives

The scope and objectives for every audit are determined through discussion with the department's management and a department specific risk assessment. While each audit is unique, there are some general or common objectives applied to most audits. Some of the common objectives are:

  • Review activity for the most recent twelve-month period
  • Review discretionary, self-supporting, restricted and agency account expenditures and determine if they are valid, reasonable and in compliance with University policies and donor restrictions
  • Determine if gifts are deposited into appropriate accounts, properly restricted and forwarded to the Office of Institutional Advancement
  • Review sponsored project account expenditures and determine if they are compliant with University policies, grant agreements and Federal regulations, if applicable
  • Assess Travel and Business Expense Reports for compliance with University policies and procedures
  • Evaluate cash controls to determine if deposits are reasonable and timely and determine if revenues are reasonable and are properly controlled and appropriately recorded
  • Review Procurement Card transactions for compliance with University policies and review monitoring and reconciling procedures
  • Review Conflict of Interest forms for disclosures and ensure effective controls that properly monitor any disclosed outside interests
  • Review controls over IT environment, such as software licensing compliance, physical security and policies and procedures
  • Review procedures used for the use of and control over Panther Funds Cards
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