91¶ÌÊÓƵ

I. REFERENCE
 

State Board of Regents "Procedures of Internal Audit Program and Reporting" adopted May 29, 1973, as revised

II. POLICY
 

A. Purpose
 

To establish the University's policy regarding internal audits; the objective, authority and responsibilities of the Internal Audit Department; and procedures for reporting and follow-up of internal audit findings.

 

B. Objective
 

91¶ÌÊÓƵ Internal Audit is an independent appraisal activity within the University for the review of operations as a service to management. It is a managerial control which functions by measuring and evaluating the effectiveness of other controls and assessing the efficiency of effectiveness of operations. Internal Audit's objective is to assist managers in the discharge of their duties by furnishing them with analysis, appraisals, recommendations and an independent point of view concerning the manager's area of responsibility.
 

C. Scope and Authority

 

Internal Audit may review and is concerned with any phase of operation or management activity in which they may be of assistance. Thus, Internal Audit's reviews may include any department, system, function or administrative unit of the University. The particular scope of the individual reviews will be determined by the needs or emphasis of the University administration, the level of control in existence in the department under review and the potential for risk and exposure to the University as assessed by the audit staff and the particular needs and concerns of the operations management of the department. To allow for such scope, Internal Audit is authorized full, free and unrestricted access to all University fiscal and administrative functions, records, property and personnel or student records. However, established and appropriate access procedures to sensitive or personally identifiable information shall be observed by Internal Audit. The services of Internal Audit are staff in nature, and as such its audit staff have neither authority over nor responsibility for any of the activities reviewed. Likewise, Internal Audit's involvement in no way relieves department supervisors of operating responsibility assigned to them.
 

D. Responsibilities

 

Primary responsibility of Internal Audit is to maintain a comprehensive program of internal auditing under the direction of the University administration and within the policies established by the State Board of Regents.