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Advisory

With this service, QAFC becomes a strategic partner with your department. With QAFC advisory services, we can add value to your department by helping you to identify enterprise-wide risks, monitoring and providing early warning of new risks, and improving your department’s processes and efficiency.

Compliance Coordination and Support Activities

QAFC is an established partner in institution-wide compliance and policy-related initiatives. These support activities and compliance coordination include Compliance Advisory Council, University Policy Committee, and GLBA.

Investigations

QAFC may perform reviews in conjunction with other departments or external agencies. Investigative reviews may result from findings during a routine review or from information received from personnel.

Reviews

Operational Reviews

These reviews examine the use of resources to determine if the resources are being used in the most effective and efficient manner to fulfill the university’s missions and objectives. An operational review includes elements of other review types listed below.

Financial Reviews

These review accounting and financial transactions to determine if commitments, authorizations, and receipt and disbursement of funds are properly and accurately recorded and reported. This type of review also determines if there are sufficient controls over cash and other assets and that adequate process controls exist over the acquisition and use of resources. Unlike external financial reviews, internal financial reviews do not prepare or express professional opinions on the financial statements’ fairness.

Compliance Reviews

These reviews determine if departments are complying with applicable laws, regulations, policies and procedures. Examples include federal and state laws, chancellor’s office directives, Board of Regents policies and procedures, and 51³Ô¹ÏºÚÁÏ policies and procedures. Recommendations from these reviews usually require improvements in processes and controls used to ensure compliance with regulations.

Special reviews may be performed as appropriate.

You can expect the review process to include:

  • Planning: Defining objectives and methodology
  • Entrance Meeting: Discussing the review and soliciting input 
  • Fieldwork: Conducting interviews, reviewing documentation, and testing
  • Reporting: Reviewing results and discussing action plans
  • Exit Meeting: Action plan and final report provided to appropriate individuals
  • Follow-up: Review progress of action plan and results