1. Tracey Sadler, CIA, CGAP Texas A&M University System

3. Assist the Board of Regents, Chancellor, and Chief Executive Officers by providing independent, objective assurance and consulting services designed to add value and improve the A&M System's operations. The Department brings a systematic, disciplined approach to evaluate and improve the effectiveness of the A&M System's risk management, control, and governance processes.

4. GTAG 3 defines continuous auditing as "...a method used to perform control and risk assessments automatically on a more frequent basis.... Continuous auditing is any method used to perform audit related activities on a more continuous or continual basis. Benefits of continuous auditing include the review of 100% of auditable transactions/ data versus a sampling, the identification of errors or other issues through frequent monitoring and review, and the facilitation of trend analysis to identify problems and/ or other concerns.

5.  Continuous Auditing ◦ Repetitive, on-going intervals ◦ Not based on audit project timeline ◦ In depth automated testing  Data Analytics: ◦ 100% transactional coverage ◦ Created on demand, reuse is considered

6. Analyze risk Identify systemic problems Identify individual over awards Identify areas to increase effectiveness

10.  Scripts had to be used at every university, regardless of the source system  Intent to reuse annually or even monthly  Easily updated for ever changing SFA rules  Scripts had to be easily read by other auditors to use in the future

13. Standardized naming convention and a record of the results.  “rpt” to denote final test report result  double digit numbering to keep the rpt in natural order – General Eligibility, Pell, etc.

15. Did no results prove compliance? Rate of errors reasonable? Was data in the field correct? What does a high error rate mean?

18. University set parameters for SAP

19. This person was 40 years old.

21. Banner can run checks for missing data or data that doesn’t match.

23. Pell Grants to students with prior bachelor degrees: 18 SEOG awarded without Pell: 10 Stafford over awards: 183 Data discrepancies: 2,755 Risks identified – Notification of loan disbursements Misinterpreted SAP progress policy Data entry validity checks from related offices – Registrar/ Admissions

24. Tracey Sadler, CIA, CGAP Senior Internal Auditor Texas A&M University System 979.458.7130 TSadler@tamus.edu www.tamus.edu