The Office of Internal Audit works in support of the Board of Trustees and in collaboration with management and external auditors to assess the effectiveness of the internal controls framework devised by the University. The internal controls framework consists of policies, procedures and activities that safeguard the assets of the organization and ensure that the financial reporting of the University is reliable. Internal Audit accomplishes this by evaluating business processes, strategy and the risks that are present within.
Internal Audit performs audits with a focus on financial, operational, compliance, strategic and reputation risks. Internal Audit is also responsible for auditing information systems and the controls embedded within those systems to support organizational processes and goals. Our audits are designed to ensure that the University is functioning in the most efficient manner, and that controls are adequate and effective. We perform our audits based on an annual risk-based audit plan, as well as at the request of the Board, University Management, Deans, and Department Heads.
Finally, Internal Audit also works in collaboration with the Office of General Counsel and the Department of Public Safety to conduct investigations of reports of theft or misappropriation of University assets. We also collaborate to address all issues that are reported to the Compliance Hotline.