Each year, Audit and Advisory Services develops an audit plan based on a risk assessment and ranking methodology developed for use by all UC campuses. However, the plan may be modified throughout the year to address emerging issues. The plan and all changes are reviewed and approved by the Chancellor and the campus audit committee (CAICFA). Audits are defined as examinations of evidence for the purpose of providing an independent assessment on governance, risk management, and control processes for the organization. Examples include financial, performance, compliance, systems security, and due diligence engagements.
For more information about audits: