Flash Expense Assessments

REQUEST A FLASH EXPENSE ASSESSMENT
COMPLETE OUR CUSTOMER SERVICES CHECKLIST
SAVE AND E-MAIL THE COMPLETED CHECKLIST TO: InternalAudit@kennesaw.edu

We will perform a quick review of your high risk processes and expenditures at your request.

• Each Flash Assessment will be completed in one to five days.

• A team meeting will be held at the beginning of the Flash Assessment to discuss the objectives/scope of the review and at the conclusion of the assessment to discuss the results.

• A Flash Expense Assessment is NOT an audit.

• An Advisory Services Report will be issued to KSU executive management and the Board of Regents; however, the primary purpose of this report is to commend you for requesting the Flash Expense Assessment.  This report will not contain information about the     results of the assessment.

• Some examples of Flash Expense Assessments that we can perform for you include:

1. Determine compliance with policies for specific expenditures (e.g., Cash, Travel, P-Card, etc.).

2. Analyze recent significant increases or decreases in expenditures.

3. Evaluate prior processes and expenditures during a change in leadership.

4. Identify duplicate payments to the same vendor.

5. Detect split purchases (same vendor, same day).

6. Perform trend analysis on account balances by month and year and identify variances.

7. Summarize expenditures made in the last month of the fiscal year.

8. Analyze petty cash transactions by expenditure to identify trends and potential abuses.

9. Review specific vendor payments to determine validity and if properly supported with documentation.

10. Analyze products purchased to identify potential waste.

11. Isolate vendor unit price variances by product over a period of time.

12. Summarize all disbursements by account, month, vendor, type, and product and identify anomalies.

13. Analyze vendors with a large number of disbursements in a specified time frame.

14. Identify vendors with post office box addresses, same addresses, multiple addresses, no telephone numbers, no web sites, or with employee addresses, names, or telephone numbers.

15. Summarize official business travel taken over holidays and weekends.

16. Identify duplicate reimbursements from purchase orders, travel advances, P-Cards, and travel vouchers.

17. Analyze travel expenditures by employee over a period of time and identify trends and variances.

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