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

  
 

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The Organizational Units: h 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Division Board of Governors President Vice President Academic Academic Development Business Development International Education Centre Faculty of Arts Media and Design Faculty of Health, Public Safety & Community Studies Faculty of Technology and Trades School of Business Centre for Continuing and Online Learning Learning and Teaching Services Vice President Finance and Administration College Ancillary Services Finance and Administrative Services Information Technology Services Physical Resources Vice President Human Resources Human Resources Centre for Organizational Learning College Foundation Departments Audit Universe Item Academic Operations & Planning Applied Research Corporate Training Workforce and Personal Development Language Institute School of Media and Design Career and Academic Access Centre General Arts and Science School of Health and Community Studies Police and Public Safety Institute Heritage Institute School of Advanced Technology Centre for Construction Excellence Personal Development Institute College Residences Accessibility and AODA Compensation, Pension & Benefits Organizational Effectiveness Labour Relations Alumni Relations Audit Type Reporting Compliance Operational Reporting Compliance Compliance Compliance Compliance Compliance Compliance Compliance Compliance Compliance Compliance Compliance Compliance Operational Operational Operational Operational Compliance Operational Operational Compliance Reporting Reporting The Organizational Units: h 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Division Board of Governors President Vice President Academic Academic Development Business Development International Education Centre Faculty of Arts Media and Design Faculty of Health, Public Safety & Community Studies Faculty of Technology and Trades School of Business Centre for Continuing and Online Learning Learning and Teaching Services Vice President Finance and Administration College Ancillary Services Finance and Administrative Services Information Technology Services Physical Resources Vice President Human Resources Human Resources Centre for Organizational Learning College Foundation Departments Audit Universe Item Academic Operations & Planning Applied Research Corporate Training Workforce and Personal Development Language Institute School of Media and Design Career and Academic Access Centre General Arts and Science School of Health and Community Studies Police and Public Safety Institute Heritage Institute School of Advanced Technology Centre for Construction Excellence Personal Development Institute College Residences Accessibility and AODA Compensation, Pension & Benefits Organizational Effectiveness Labour Relations Alumni Relations Audit Type Reporting Compliance Operational Reporting Compliance Compliance Compliance Compliance Compliance Compliance Compliance Compliance Compliance Compliance Compliance Compliance Operational Operational Operational Operational Compliance Operational Operational Compliance Reporting Reporting

Answer rating: 100% (QA)

SOLUTION To create a risk assessment for each organizational unit using a risk matrix you will need to consider the factors provided financial compliance customer service and reputation and use the Li... View the full answer