Questions and Answers

1. What are internal controls?

2. Are the auditors responsible for maintaining the University's systems of internal control?

3. What is operational auditing and are operational audits performed at LIU?

4. What is the relationship between the internal auditors and the outside public accountants who audit the University's accounting records?

5. Are auditors looking for fraud when performing audits?

6. How are audit engagements selected?

7. Can University personnel seek advice from Internal Audit regarding internal control when an audit is not being performed?

8. Must the auditee always implement audit recommendations?