Responsibility

The It is the responsibility of the Office of the Internal Auditor to develop and execute a comprehensive audit program for the University. All audits conducted by the OIA will be performed with proficiency and due professional care, in compliance with the high standards of honesty, objectivity, diligence and loyalty, as outlined by the University, the State Board of Trustees of Institutions of Higher Learning, the Association of College and University Auditors, and the Institute of Internal Auditors.

One of the primary responsibilities of the Internal Auditor is to evaluate the adequacy of the systems of internal control to ensure that the systems established provide reasonable assurance that the University’s objectives and goals will be met efficiently and economically. The OIA will identify those activities subject to audit coverage, based on their significance and the degree of risk inherent in the activity in terms of cost, special requests by Administration or management, and areas where non-compliance with guidelines could result in severe penalties to the System. The OIA will review departmental procedures and records for their adequacy to accomplish intended objectives, and appraise policies and plans relating to the activity or function under audit review. The OIA will advise management in the development of systems, future policies and plans, and share in the responsibility of maintaining effective and efficient operations.

The OIA will produce reports of the results of audit examinations, including recommendations for improvement. The OIA will appraise the adequacy of the action taken by operating management, under the guidance of the President, to correct reported deficient conditions.

The OIA also has the responsibility of facilitating internal and external audit efforts. This is done to ensure adequate audit coverage and to minimize duplicate efforts.

Within the confines of the authority and responsibilities assigned to the Office of the Internal Auditor, the department will perform audit procedures and make recommendations on the basis of (1) sound business practices, (2) technical knowledge acquired through on the job training, (3) standards, ethics, accounting requirements, and studies of professional internal auditing groups, (4) requirements imposed by external regulatory groups, and (5) knowledge acquired through continuing education.