Audit Manual
Follow-Up Policy
Audit Services shall maintain a follow-up process to monitor and ensure that management’s action plans have been effectively implemented. The purpose of follow-up is to determine the adequacy, effectiveness, and timeliness of actions taken by management.
Follow-up activities occur in two ways:
- UT System Monitoring – During the reporting process, issues that are considered institutionally significant are reported to the UT System Audit Office for inclusion in a quarterly monitoring/update report to the Board of Regents’ Audit, Compliance, and Management Review Committee.
- Audit Services’ Monitoring – Audit Services will generally conduct follow-up on the annual anniversary of the release of the final report and/or when the latest implementation date becomes due for each engagement. A report on the status of our follow-up activities will be provided quarterly to the Audit committee.
- Follow-up will require the auditor to:
- Obtain a copy of the audit file and identify the significant issues to be followed up on.
- Notify management by sending an email or a memo noting the date the follow-up is scheduled to begin.
- Determine the appropriate method of assessing whether corrective action has been taken. This may include detailed testing, review of policies, or interviews.
- Document the result of the follow-up in the work papers.
- Communicate results of the follow-up to appropriate management.
Note: Follow-up work should be documented using the same standards as those for documenting the original audit work. All work papers are to be placed in TeamMate.