An Audit Report on Financial System Controls at Texas Tech University
November 2005
Report Number 06-014
Overall Conclusion
Security controls over Texas Tech University's (University) financial system may not be adequate to protect critical data from unauthorized alteration or loss. Improvements should be made to the University's disaster recovery planning, physical security, user access, and internal network configuration. Conversely, the University's wireless network configuration and security are exemplary.
The University's financial system controls may not be adequate to ensure that financial data and reports are accurate, although no errors came to the auditors' attention during this audit. In addition, the University's management of those financial system controls could be improved, and inherent financial system inadequacies require continuous management intervention. The University acknowledges the financial system's inadequacies and is researching replacement options.
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