tailieunhanh - 2012 Audit Plan: Finance, Audit and Facilities Committee Board of Regents

The ability of this first principal component to explain the macroeconomic performance of the economies varies considerably across the sample. To see this diversity, we can look at the factor loadings on the first principal component and the percentage of variation in GDP growth rates that are explained by the first principal component. The factor loadings, normalised to have a mean of , are given in Figure 3. Industrial economies are shown with darker bars, and emerging market economies with lighter bars. The largest EMEs appear on the left of the figure, indicating that they exhibit highly idiosyncratic business cycles | W INTERNAL AUDIT UNIVERSITY of WASHINGTON 2012 Audit Plan Finance Audit and Facilities Committee Board of Regents November 2011 ATTACHMENT Table of Contents Executive 2012 Audit Analysis of Coverage of University Auditable University Auditable Units - Heat Listing of University Auditable Planned Audit Audit Appendices Risk Assessment Methodology Development of Annual Internal Audit Executive Summary The 2012 Audit Plan contains key information on our planned audit activity for calendar year 2012. The plan was based on the results of our annual risk assessment process. Audit Goals Internal Audit s major goals for 2012 are Complete audits within fifteen of the highest risk ranked units of the University Provide the University with value added recommendations to improve controls mitigate identified risks and increase efficiency within operations Expand our audit universe to include Valley Medical Center and also consider expanding to newly created or acquired UW operations Continue to develop our student intern program and Continue to lead and participate in the Pacific Northwest College and University Internal Audit Conference. Audit Plan 2012 The University of Washington Internal Audit Plan for 2012 is designed to provide audit coverage across the entirety of the University deploying Internal Audit resources in an effective and efficient manner. To focus on the appropriate areas we considered the strategic plans and initiatives the University has articulated over the last two years including Two Years Two Decades 2Y2D Activity Based Budgeting ABB and Organizational Effectiveness Initiative. We continue to focus on the highest risk areas as identified in our risk assessment. The Audit Plan was developed through the completion of a risk assessment project which included interviews with senior management review of strategic financial and historical information regarding the individual .