The scope of work of the internal audit activity is to determine whether the University’s network of risk management, control and governance processes, as designed and represented by management, is adequate and functioning in a manner to ensure:
- Risks are appropriately identified and managed.
- Interaction with the various governance groups occurs as needed.
- Significant financial, managerial and operating information is accurate, reliable, and timely.
- Employees’ actions are in compliance with policies, standards, procedures, and applicable laws and regulations.
- Resources are acquired economically, used efficiently and adequately protected.
- Programs, plans, and objectives are achieved.
- Quality and continuous improvement are fostered in the University’s control process.
- Significant legislative or regulatory issues impacting the University are recognized and addressed appropriately.