The Stanford Internal Audit Department has developed a protocol for dealing with audits and auditors , presented and discussed later in this Guide.
Auditors review transactions and documentation.
An audit typically consists of a review of existing financial records and often requires additional information about the transactions being reviewed. The objectives of an audit can be accomplished by means of personal interviews with University personnel, written responses to questions posed by the auditors, or the provision of other documentation. Departmental staff are typically involved in interviews and responses to questions. Stanford management reviews draft audit reports. All audit reports, including those by non-Stanford auditors, are typically prepared in draft form and then submitted to Stanford for review and comment.