The audit process typically encompasses planning, fieldwork, reporting, and follow up:

Planning:

• Meeting to inform management of preliminary audit scope and objectives
• Gather background information through interviews and research
• Conduct a project-based risk assessment
• Finalize the audit scope and objectives

Fieldwork:

• Gather additional data and information as necessary
• Analyze data for reliability
• Analyze data and information for trends or gaps
• Share initial findings with management and collaborate on potential recommendations
• Formulate findings and recommendations for report

Reporting:

• Write draft report and develop potential graphics to be used in report
• Conduct an internal quality control review to verify the accuracy of the report based on data and information obtained during planning and fieldwork
• Meet with management to review the draft report and obtain additional documentation if needed
• Revise draft report, if necessary, based on management input
• Prepare final draft for management’s response
• Review management’s response for reasonableness
• Publish report with management’s response
• Present report to the Board and State Legislature

Follow Up:

• Receive status reports from management every six months until recommendations are implemented or closed for other reasons
• Review actions taken or planned for reasonableness
• Provide results to Board and State Legislature