Ohio University's top governing body heard the plans for the annual audit, which will include investigations into the finances the Russ Research Center and local media affiliate WOUB, at a committee meeting yesterday.
Plante & Moran, a Columbus-based audit company, told OU's Board of Trustees that they will begin their preliminary fieldwork in the middle of May and continue to compile their report throughout the summer and next fall. A final report will be due to the university in December.
As an external auditor, the company review the university's financial statements and federal programs. In addition to these, they will express their opinions on the current financial states of the Inn-Ohio of Athens, Inc., Housing for Ohio, Inc., Russ Research Center, and WOUB.
This is an annual audit requirement for the fiscal year end of the university which is June 30
said Robert Shenton, engagement partner for Plante & Moran. Our responsibilities are to express opinion on the financial statement of the major federal programs of the university.
The auditing of WOUB will be a major component of the report, said Keith Martinez, an associate at Plante & Moran.
At WOUB there are significant process of controls that are different than the university he said.
According to the presentation, the university will provide an internal staff to work 120 hours toward the auditing.
Internal audit is an important role in our process
said Martinez. Internal audit does help us with our chapter seven
Shenton said that auditing some components of OU's finances may be more complicated than in previous years because of the national stimulus package.
There will be some changes in the procedures, but not necessarily in the reports. There will be some additional disclosures, Shenton said.
Shenton said that they plan to have an update for OU sometime in fall quarter
We gave you an update last year in September, so we were here in the field probably about half way to two-thirds through the audit, he told the board's audit committee.
In addition to working with OU
Plante & Moran works with other universities throughout the state and the country
We work with Akron, Kent State, Central State, Cleveland State, to name a few of them, Shenton said.,",1,News,Olivia Arbogast,",",",",",","
31325,2010-04-15 23:59:00,Softball: Ohio tries to forget Tuesday's blunders,With a traumatic road trip to West Virginia fresh on the mind
coach Jodi Hermanek said it might be best for the Bobcats to develop selective memory.,With a traumatic road trip to West Virginia fresh on the mind
coach Jodi Hermanek said it might be best for the Bobcats to develop selective memory.
Ohio (9-24
4-2 Mid-American Conference) dropped a doubleheader at Marshall Tuesday
4-1 and 7-6. The losses came after the Bobcats won four of six games
including their first winning streak of the season (three)
to start their conference schedule.
With two MAC contests today and two more this weekend
