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HIGHER EDUCATION’S SOCIAL MEDIA - ACUA

I VOLUME 58 I NUMBER 2 I SUMMER 2016 IINSIDE:Conflicts of Interest Best Practices: Mitigating Fraud Risk at Your UniversityFraud Education and Awareness: Increasing Employee Fraud AwarenessKnow Your Neighbor, Part 2: Cloud Providers and SecurityData Analytics: A management Tool for Addressing Organizational RisksAuditing Solutions for HIGHER Education IssuesHIGHER EDUCATION S SOCIAL MEDIA :WHO S MINDING THE STORE?Modern-day chief audit executives strive to align internal audit (IA) efforts with institutional strategies and help to evolve institutional risk management and compliance. Challenges include staying abreast of the latest regulatory changes, addressing industry hot topics, and accessing the right expertise at the right time.

Modern-day chief audit executives strive to align internal audit (IA) efforts with institutional strategies and help to evolve institutional risk management and compliance.

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Transcription of HIGHER EDUCATION’S SOCIAL MEDIA - ACUA

1 I VOLUME 58 I NUMBER 2 I SUMMER 2016 IINSIDE:Conflicts of Interest Best Practices: Mitigating Fraud Risk at Your UniversityFraud Education and Awareness: Increasing Employee Fraud AwarenessKnow Your Neighbor, Part 2: Cloud Providers and SecurityData Analytics: A management Tool for Addressing Organizational RisksAuditing Solutions for HIGHER Education IssuesHIGHER EDUCATION S SOCIAL MEDIA :WHO S MINDING THE STORE?Modern-day chief audit executives strive to align internal audit (IA) efforts with institutional strategies and help to evolve institutional risk management and compliance. Challenges include staying abreast of the latest regulatory changes, addressing industry hot topics, and accessing the right expertise at the right time.

2 High-performing IA functions leverage Baker Tilly to help their institutions to: Understand and address emerging regulations within HIGHER education ( , Uniform Guidance, Title IX) Augment technical expertise to audit cybersecurity risks Develop construction risk management programs Address sponsored research compliance and infrastructure effectiveness Interface with government auditors ( , NSF, NIH) and resolve government audit findings Improve institutional operations ( , investment management , athletics, advancement, academic integrity) Perform value-added quality assessment reviews Assess and catalyze institutional efforts to implement enterprise risk management and evolve compliance programs Navigate your evolving challenges through collaboration with Baker TillyConnect with us.

3 2016 Baker Tilly Virchow Krause, LLP Baker Tilly refers to Baker Tilly Virchow Krause, LLP, an independently owned and managed member of Baker Tilly independent member of Baker Tilly InternationalCOLLEGE & UNIVERSITY AUDITORCONTENTSSUMMER 2016 ACUA members are invited to submit letters and original articles to the editor. Go to and click on the Resources College & University Auditor journal for further guidelines. The editor reserves the right to reject, abridge or modify any advertising, editorial or other material. EditorSam Khan, CISA, Oregon State StaffAmy Hughes, Michigan TechDavid Dixon, Governors State UniversityMary Ann Mackenzie, Auburn UniversitySterling Roth, Georgia State UniversityACUA ManagementStephanie Newman, CAE, Account ExecutiveRaven Hardin, Account ExecutiveUpcoming DeadlinesFall 2016 Issue September 1, 2016 College & University Auditor is the official publication of the Association of College & University Auditors.

4 It is published three times a year as a benefit of membership. Articles in College & University Auditor represent the opinions of the authors and do not necessarily represent the opinions of governance, members or the staff of the Association of College & University Auditors. Acceptance of advertising does not imply endorsement by ACUA. 2016 Association of College & University address changes to: ACUA PO Box 14306 Lenexa, KS COLLEGE & UNIVERSITY AUDITOR FEATURES SOCIAL MEDIA4 HIGHER Education s SOCIAL MEDIA : Who s Minding the Store? By Emily E. Kidd, CIA FRAUD7 Conflicts of Interest Best Practices: Mitigating Fraud Risk at Your University By Craig A.

5 Anderson, CFE, MS; Melissa B. Hall, CPA, CFE; William A. Hancock, Jr., CPA, CIA, CFE, CISA and Stefanie Powell, CPA, CISA10 Fraud Education and Awareness: Increasing Employee Fraud Awareness By Joseph Reed, CIA, CFE and Ralph Kimbrough, CPA, CIA COLUMNS13 Know Your Neighbor, Part 2: Cloud Providers and Security By Allison MacFarlan, CISSP, CISA AUDIT TOOLS16 Data Analytics: A management Tool for Addressing Organizational risks By Ryan Merryman, CPA, CFF, CITP, CFE; Chris Knopik CPA, CFE and Matt Anderson CPA, CFF, CFE, ASA18 Auditing Solutions for HIGHER Education Issues By Joseph Reed, CIA, CFE and Catherine Miller, CPA MEMBERS22 Best Practices Survey Assistance Available22 QAR Report Comment Repository22 Save The Date 2017 ACUA Midyear Conference23 Register Today 2016 ACUA Annual Conference DEPARTMENTS2 From the Editor3 From the PresidentLETTER FROM THE EDITORBy Sam Khan, CISA EditorFarewell readers.

6 This is my last edition as editor. It is hard to believe that it has been three years since I began working on the journal as deputy editor and later as the editor. While stepping away from the editor role, I will still be deeply involved with ACUA. I recently took on the newly created role of Communications Committee Chair. In this role, I will be working with volunteers to make the website, journal, SOCIAL MEDIA and ACUA community - the tools we use to communicate and share ideas work better for you. In this issue of the journal, we have an article by Emily Kidd called, HIGHER Education s SOCIAL MEDIA : Who s Minding the Store?

7 This article identifies the risk of SOCIAL MEDIA in HIGHER education and shows how internal audit can address this rapidly changing s Best Practices Fraud Subcommittee surveyed ACUA s membership to gather best practices for the prevention of fraud, waste or abuse due to unmanaged or undisclosed conflicts of interest. The article called, Conflicts of Interest Best Practices: Mitigating Fraud Risk at Your University offers guidance for addressing this MacFarlan has written a follow-up article to her first article, Know Your Neighbor: The Cloud, which was published in the summer 2015 issue.

8 In part two of her article, she explores the challenges educational institutions face when securing applications and data in the cloud. Her article explores the controls and risks related to federated authentication. Auditing Solutions for HIGHER Education Issues by Joe Reed and Cathy Miller introduce the idea of repetitive audits which have a narrowly-defined scope of work. These audits focus on a particular part of a process and the same audits are conducted throughout different university units. Performed in a day or less, a draft report is sent to the client within a week. Data Analytics: A management Tool for Addressing Organizational risks by Ryan Merryman, Chris Knopik and Matt Anderson explores how data analytics can help build trust.

9 The authors state that when an institution routinely demonstrates accountability, communicates the performance of its programs, and creates transparency, it builds and sustains the public trust. Fraud Education and Awareness: Increasing Employee Fraud Awareness by Joe Reed and Ralph Kimbrough states that internal auditors cannot be responsible for finding all fraud nor can they be held responsible for preventing fraud. Prevention measures are to be adopted and installed by the administration. Thus, internal audit must find ways to persuade management to adopt methods of preventing fraud and educate management on how to detect fraud when these prevention measures fail.

10 As always, I encourage your feedback. I am interested in hearing about topics you would like to see in future issues of the journal. Now, as the Communications Committee Chair, I would love to hear your thoughts about how ACUA communicates with you and how we can improve. Please feel free to contact me at (541) 737-7336 or Thank you to all the people who helped make this issue possible. Volunteering for the journal is a great way to give back to the profession. nVolunteering for the journal is a great way to give back to the COLLEGE & UNIVERSITY AUDITORLETTER FROM THE PRESIDENT3 COLLEGE & UNIVERSITY AUDITORG reetings ACUA Friends and Colleagues:Resources!


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