Management's Responsibilities

Management is responsible for ensuring that systems of internal control are in place, good business practices are implemented and followed in all areas, compliance is maintained, fraud risks are identified and mitigated, and effective governance is established. This provides assurance that financial information and other management information are reliable, that University resources are used efficiently and effectively and that the potential for fraud is minimized.

Management provides a written response to report recommendations issued within time frames requested by internal audit. Management is responsible to address issues identified by implementing recommendations or agreed-upon corrective action plans.