Internal audits are at the heart of the services we provide and are determined based upon an annual risk assessment. The audits are planned and carried out in accordance with an annual work plan, which is approved by the President and Board of Trustees. We take a facilitative approach to our audits by actively assisting our clients in developing corrective action plans in response to audit observations. The audit process continues with our biannual audit follow-up program, whereby twice a year we determine if planned corrective actions for the previous six-month period have been implemented.
The types of audits we conduct are:
Internal Control - Financial-related
Primary objectives are to determine if controls over a process, operation, or unit under review are adequate to protect the University's resources.
Identify risks and evaluate the adequacy of controls over important computing systems and surrounding infrastructure. This assurance helps determine the measures needed for IT resources to operate in an efficient and effective manner.
Main purpose is to evaluate the efficiency and effectiveness of a particular process, operation, or unit.
Chief focus is to evaluate compliance with pertinent laws, rules, or regulations that govern the process or unit being audited. Most audits contain a compliance component. All audits are performed in accordance with the Standards for the Professional Practice of Internal Auditing. https://na.theiia.org/standards-guidance/pages/standards-and-guidance-ippf.aspx