Internal Audit
ARRA Audit
Background
Internal Audit is aware that sometime during
2010 / 2011:
– NSF OIG and SAO will conduct audits related to
ARRA.
As such we have included ARRA in our annual
audit plan.
ARRA Preliminary Audit Objective
To determine whether the University’s system of
internal controls are adequate to provide
reasonable assurance that ARRA funds are
administered in accordance with OMB and
sponsor regulations.
ARRA Preliminary Audit Objectives
Specifically:
– ARRA funds are separately tracked and properly
accounted for in the University system
– The University’s ARRA reporting is in compliance
with OMB and sponsor guidance
– ARRA funds are used in a timely manner
– ARRA funds are used in accordance with OMB
Circular A-21
Audit Scope
• Review of controls at central offices (FM, OSP, HR) and
depts.
• Emphasis will be on research grants/contracts
• Areas that could be audited at the depts. are:
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Allowability of costs
Subrecipient monitoring
Cost transfers/JVs
Cost sharing
Supplanting
Reporting
• List of departments have not yet been determined
– Internal Audit will complete data analysis to determine
which departments to review