You are the Chief Audit Executive (CAE) and you are establishing a brand-new internal audit function at a mid-sized college.
Using the information provided on the following pages:
You will document your risk assessment for each of the organizational units using a risk matrix. Each unit should be assessed using 4 factors – financial, compliance, customer service and reputation.
You will provide an explanation of your impact and likelihood assessments for two units.
You will create an audit universe record for one of the units.
Part 2:
Using your audit universe risk assessment, create a 5-year plan. Assume that 2022 is the first year of internal audit activities.
Part 3:
Create an annual audit plan for 2022
