The
longitudinal analysis was performed by creating composite control
charts using the individual charts produced at the conclusion
of each audit and included in the final audit report. Composite
charts were produced for each of the last three fiscal years
(FY02-04) and represent the state of controls found at the time
of audit. The analysis also included
an assessment of the impact of corrective actions taken as a
result of audit recommendations. For this purpose, composite
control grids were developed based on the results of our most
current follow-up work (August 04).
The
Objectives of the longitudinal anaylsis
were to discern:
- Trends
in the institution’s internal control.
- Evidence
of control issues of a systemic nature.
- Trends
in control effectiveness by organizational component.
- Trends
in control effectiveness by business process.
- Trends
in control effectiveness within high risk organizational
units/processes.
- Trends
in the COSO components of: control environment, risk assessment,
information and communication, and monitoring.
The
analysis was presented to the Board of Regents Audit Committee
on September 9, 2004. A copy of the analysis was also provided
to the Board of Regents. Please click on the link below.
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