Internal audits will be conducted on a semi-annual basis by each department in cooperation with the Property Control Office. The purpose of these audits is to document that all departmental equipment inventories are current, to ensure that all DSU equipment is accounted for, and to verify departmental compliance with institutional policies and procedures regarding equipment. Each internal audit will be conducted as follows:
Each department head will be sent an inventory listing by the Property Analyst in January and July of each year and will be directed to perform a self-audit of all items listed. Upon completion of the self-audit, the department head will sign and return an audit sheet verifying that all items have been properly accounted for. All self-audits should be completed within thirty days. Departments that do not complete their audits and return the signed audit sheet within 30 days will be referred to the appropriate Dean or Vice President and to the Vice President of Finance and Administration for further action.
The Property Analyst will conduct periodic spot audits to verify that equipment is in place or properly accounted for. The Property Analyst will audit a minimum of 10% of the total number of departments annually and will rotate audited departments each year. After each spot audit is complete, the Property Analyst will report to the department head the findings and request a response on any discrepancies, if applicable. The department will be given five (5) working days to respond.
After review of the findings by the Director of Procurement and Auxiliary Services, an exit conference will be scheduled and conducted for any unresolved findings or discrepancies.
A final audit report will be issued regarding the results of the equipment audit. The report will be addressed to the department head and copies forwarded to the appropriate Dean and/or Vice President. All unresolved discrepancies will be forwarded to the Vice President of Finance and Administration for further action, to include the possibility of a financial claim against the department head.
The State Department of Audit will make regular audits to verify the actual equipment items inventoried. The Property Control Office and each department head will be responsible for furnishing personnel to assist the state auditors in locating equipment items for these physical audits. Each department head and appropriate departmental personnel will assist the Property Control Office in resolving any discrepancies noted by the state auditors regarding the physical examination of the inventoried equipment items. The State Department of Audit will issue its findings to the President of the University upon completion of the audit.