Презентация на тему The Role of the Internal Audit Department

an independent, objective assurance and consulting activity designed to

add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. ” The Institute of Internal Auditors

Ways and Best Practices
Partner With You to Find Solutions
Prevent

Problems

Regents Audit Committee
- Ensures independence
Elevate issues to a level

where they can be corrected
Keeps Regents informed
Meets quarterly

risk of occurrences that could prevent the University from

achieving its goals
There are many types of risk – fraud, improper reporting, ineffective or inefficient use of resources, credibility loss, etc.
Focus on areas with high risk and high probability that controls are not in place or are weak

plan developed with input from across the University
Risk factors:
Impact
Probability
Controls

audits for fiscal year
Based on risk assessment and

available man hours
Includes estimated budget hours and completion date
Approved by Audit Committee

or Schools
Programs, Grants, Contracts
Information Technology Systems
University-wide Processes


WE DO

NOT AUDIT
Specific individuals
Human Resource issues
Sexual harassment or other civil rights issues

Whistleblowers
University policy requires Internal Audit to receive reports of
Misconduct
Fraud
Several

ways to report
Hotline
E-mail
Phone
Walk in

possible we will refer to the appropriate Dean, University

Police, OEO or Human Resources for investigation
University policy requires Internal Audit to investigate if financial or operational
Internal Audit coordinates and reports to the State Auditor

are certified
public accountants,
internal auditors,
fraud examiners and

information system auditors
We are a staff of 7 auditors

you!
Misreporting hours.
Forgetting to obtain prior approval when needed.
Using estimates

that are not supported.
Any violation of University policy.

working
Review and reconcile
Check the work of your subordinates
Don’t give

in to the temptation to skip controls because you are busy!

report?
What was found
Why it happened
What is required
What effect it

has
Recommendation for improvement
Response – who, when and how

Review corrective action
Report to Audit Committee

a peer review at least once every five years
Our

Standards are set by the Institute of Internal Auditors, and the American Institute of Certified Public Accountants

Are Doing
At the completion of each audit we will

send an after-audit-survey
We want you to rate our performance
Were we professional, helpful, timely and did we add value?
Please take the time to give us your feedback.

training
Respond to policy and technical accounting questions
Offer suggestions for

improvement
Advisory role