I have learned that internal audits help a school to have smoother external audits by ensuring the policies and practices align perfectly. If the polices and core are strong and practices are in accordance as well as the staff is well aware, there is less work needed by the agencies. Moreover, the auditors do their homework before doing an audit and evaluate the material that is available before going for the physical audit. As a result they get to see what the catalog says and when they come, if school is doing things per their statements in the catalog, it would become evident to the auditor. Then identifying the areas that are critical and focusing on them is also important because some factors are high risk, like financial aid, admissions and the employment outcomes. So in a nutshell, clear polices and their training to the staff will lead to a compliant campus and internal audit will help determine the areas that need to be focused and fixed prior to the external audit.
