Guidelines for being Audit Ready

  • Create and maintain documented Internal Controls.  Auditors want to see that you have procedures documented and that the project staff follows them.
  • Ensure that all purchase receipts and supporting documentation are in one place and can be linked to the expense transaction.
  • Ensure that each expense transaction can stand alone. This means that anyone can read the documentation and confirm that it is reasonable, allowable, allocable, and consistently treated. 
  • Keep organized and complete accounting, contract, and project files.
  •  Ensure that all Cost Transfers are documented; information in MyFD should be complete and support the reason for the Cost Transfer.  
  • Ensure that bids and consultant contracts are on file in the appropriate place.
  • Keep list of personnel authorized to approve expenses.
  • Resolve issues when they arise, do not wait for an audit or Award end.
  • See also: Internal Audit's webpage on the Audit Process.

Best Practices in an Audit

  • Contact UW Internal Audit if you or your department are notified of an audit or contacted by an Auditor.
  • Be prompt in responding.
  • Keep original documentation on site; Auditors can have copies if they want to retain any documentation.
  • Only provide information that is asked for, do not elaborate.
  • Do not include office politics or other departmental issues in the response.
  • Only answer questions you know the answer to; do not hesitate to defer.
  • Do not return any documentation to archive/off site storage until the audit has been resolved.

Single Audit (formerly known as A-133 Audit)