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What is the difference between an Internal Audit and a Consulting (Management Advisory) Service?

Answer: 

Audits are initiated by Internal Audit as a function of the UC internal audit program and the scope is established by Internal Audit in consultation with the client. These engagements are designed to provide assurances to the Regents, president, chancellor and campus principal/senior officers. Audit engagements are more formal by nature, are conducted following professional auditing standards, and reports have more visibility.

Consulting Services are generally requested by campus principal/senior officers or campus managers who wish to utilize the expertise of the Internal Audit office to assist in more focused areas, operational processes, or campus initiatives. The scope is generally established by the client in consultation with Internal Audit. Consultative Service engagements are less formal by nature and reports are generally limited to campus distribution only.