Audit and Advisory Services, in consultation with campus management, develops an annual audit plan based on a risk assessment and ranking methodology utilized across the UC system and augmented to address local needs and risks. The plan is reviewed and approved by the Associate Vice Chancellor for Administrative Services and the UCSB Audit Committee prior to submission to the Senior Vice President and Chief Compliance and Audit Officer and ultimately The Regents. The plan is subject to approval by the UCSB Chancellor.