About Audits

An Audit is an independent objective review of operating policies and procedures. The audit process executes a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. 

UMD is audited by the Office of Legislative Audits (OLA) and USM's Office of Internal Audits (OIA). OLA audits for fiscal compliance every three years. OIA audits various areas annually. 

The audit process involves the client from start to finish. Learn more about the audit process, including what you can expect, why you are being audited and the audit steps.

Internal audits are generally initiated as part of UMD’s annual audit plan.  Audits can also be requested by senior administrators or department/unit or as a result of complaint. 

The Internal Auditor will gather information to analyze and assess a process, department/unit, and/or function to ensure compliance with UMD policy and procedures and state and federal policies and laws.  See typical audit areas here.

There are different phases of the internal audit process. The amount of time required to conduct and complete each phase depends on the cooperation and availability of the client, and the complexity of the audit. An overall audit process may take approximately three to 12 months.

The auditor will typically request the following information:

  • Mission and key objectives of the entity or process

  • Results of prior internal and external reviews

  • Action plans for significant management initiatives

  • Organizational charts

  • Process flowcharts

  • Summary of contracts and grants

  • Department/unit-specific policies and procedures

  • Budgetary, financial, management, and exception reports

  • Source documents such as payroll records, travel vouchers, recharges and cost transfers

See description of the Audit Steps here