Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Internal Audit topic
No spam. Unsubscribe anytime.
UNC internal audit says work plan on track at midyear; 64% of engagements completed or underway
Summary
Chief Audit Officer Dean Weber told the Audit Committee the Office of Internal Audit had completed or was underway on 64% of its fiscal 2025 work plan at the midyear check-in and expects to finish the majority of planned risk‑based audits by June 30.
Chief Audit Officer Dean Weber told the Board’s Audit Committee on Jan. 23 that the Office of Internal Audit is on track to complete most of its fiscal 2025 work plan after finishing 14 engagements and having 9 underway at the midyear point.
The update covered the Office’s 25 planned risk‑based engagements, six carryovers and five special projects. Weber said the office recorded 36 total engagements at the midpoint and that, “At this milestone, we've concluded 7 planned audits. 6 are underway. And additionally, 4 carryover audits have been completed,” bringing the total concluded engagements to 14.
The audit office tracks follow‑up on recommendations. Weber reported 45 open findings at the end of the second quarter, of which 23 were not yet ready for management assessment because corrective‑action target dates had not yet passed and 22 were ready for review. He also told trustees the office closes prior findings regularly and continues to prioritize risk‑based audits.
Trustee questions focused on the open‑finding log and carryover audits. Trustee Webb asked whether a chart listing open items could be shared; Weber said the office maintains a running log and would provide a list of open items. Webb also asked why the office plans roughly 25 engagements each year even though some carry forward; Weber said planning for a larger set leaves capacity to cover special projects that arise during the year and that the office prioritizes the highest‑risk audits first.
Weber also summarized professional development and staffing: the office budgets time for the Institute of Internal Auditors’ 40 continuing professional education hours and reported one staff member recently obtained CPA licensure and three are pursuing the Certified Internal Auditor exam.
The committee received the update as an informational item; no changes to the approved work plan were proposed at the meeting.
Ending: The Audit Committee will receive the Office of Internal Audit’s fiscal 2025 reports and follow‑up data at future meetings as the year progresses; trustees requested the audit team provide the open‑items log to committee members.
