Old Dominion University Policy B-5
Office of the University Auditor
Audit Manual Established Date: 3/01/01
Types Of Work Performed Revision Date: 3/08/07
The internal audit profession has changed over the years. Auditors no longer exclusively review past
transactions looking for compliance with policies and procedures. Today, we are engaged in a number of
activities on campus:
The Board of Visitors approves a schedule of audits each year. This schedule is based on a periodic analysis of
risk at the University, suggestions by University administrators and consideration of other factors. These
audits may encompass compliance, financial, operational or information technology review aspects.
Consultations and Special Projects
An increasing part of our work is in providing consultation work for University management. We are asked to
provide independent verifications of data, prepare training, provide objective analyses of particular situations
and help in finding solutions to problems. We are also often asked for help in interpreting University or state
policies and procedures.
Internal Audit and the Department of Public Safety are charged with primary responsibility to investigate
fraud, waste and abuse. Internal Audit has the responsibility for investigating phone calls about ODU made to
the Commonwealth's Fraud, Waste and Abuse Hotline.
Our compliance auditor works closely with others around the University in helping formulate strategies to
ensure the University is compliant with federal and state laws, regulations and standards. These cover
compliance in areas such as accounting, information technology, environmental health and safety, NCAA,
research and human resources. A compliance committee has been formed to represent compliance efforts in
these areas and others as well.