The University at Buffalo fully cooperates with and assists
external auditors and/or investigators. To ensure consistency, the
Associate Vice President and Controller must be informed of, and
will determine the appropriate coordinator of the activity.
The University at Buffalo (UB, university) fully cooperates with
and assists external auditors whose responsibilities involve
examination and confirmation of university transactions.
To help ensure that external audit activity is appropriately
coordinated, the Associate Vice President and Controller must be
informed of and will determine the coordinator of the external
audit activity. This coordination assures an understanding of the
objectives and scope of the audit and assists the auditors in
achieving legitimate objectives with the least impact on university
On a timely basis, the university will provide external auditors
with access to all records that are relevant to the audit, except
those deemed by the university to be legally privileged or
protected. Availability of records is subject to the State
University of New York (SUNY), Research Foundation (RF), or New
York State record retention policies, which allow destruction of
records within prescribed limits.
This policy applies to all audits and reviews performed by
external auditors for all university entities (e.g., State
operations, RF, UB Foundation, Campus Dining and Shops, clinical
practice plans, student organizations, and other related
Independent and objective appraisal
to examine or review the fair presentation of financial statements,
economy and efficiency of operations, effectiveness of achieving
program results, compliance with laws and regulations and/or the
detection of fraudulent activities. Audits include reviews, site
visits, desk audits, and fraud investigations.
Independent and objective appraisal,
performed by a non-UB audit entity (including SUNY Internal Audit
and RF Internal Audit) of the university’s financial and
administrative performance as a custodian of public and private
An auditor not employed by UB;
external auditors may represent SUNY, Office of the State
Comptroller, RF, federal agencies, certified public accounting
firms, legal firms, and grant sponsors.
Although every audit is unique, the audit process is similar for
most engagements and normally consists of the following phases:
- Notification – Managers will receive a letter or
some type of communication informing them of an upcoming audit,
review, site visit, desk audit, or fraud investigation and
requesting documentation (e.g., organization charts, system
documentation, flow charts, financial statements). The Associate
Vice President and Controller should be notified immediately upon
receipt of such a request.
- Entrance Conference – The opening meeting includes
management and administrative staff involved in the audit and is an
opportunity to discuss the scope of the audit, available resources,
and other concerns. The Associate Vice President and Controller or
a designee may attend the entrance/opening conference to facilitate
full communication of audit objectives, schedule, and
- Fieldwork – The auditor interviews staff, reviews
procedure manuals and business processes, tests compliance, and
assesses the adequacy of internal controls.
- Draft Report – After all fieldwork is completed,
the auditor may prepare a draft report that documents objectives,
procedures, conclusions, and recommendations.
- Responses to Audit Reports – The Associate Vice
President and Controller reviews and approves all responses to
draft and final audit reports prior to submission to the audit
- Exit Conference – Management and the auditor
review and discuss the draft report, provide feedback on
implementing recommendations, discuss any other issues related to
the audit, and comment on the audit process.
- Final Audit Report – The Associate Vice President
and Controller coordinates the distribution of the final audit
- Audit Recommendation Follow-up – Every effort
should be made to implement recommendations within six months of
the issue date of the report.
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Buffalo, NY 14214