Role of Internal Audit
James J. Rowan
Announcement - Rutgers-UMDNJ Integration: UMDNJ will be transferred to Rutgers, effective July 1, 2013. As a result of this integration, you will see changes to this website. Learn more about the Rutgers-UMDNJ Integration.
Internal Audit provides an independent and objective assurance service designed to add value and improve operations through improved controls. Internal Audit helps UMDNJ accomplish its objectives by applying a systematic, disciplined approach to evaluate and assess the effectiveness of risk management, control and governance processes.
Internal Audit reviews will determine the effectiveness of internal controls, compliance with applicable laws and regulations, and reliability of financial reporting. In assessing the control environment, Internal Audit will consider:
- The condition of the system of internal control and quality of operations;
- The criticality and severity of audit findings;
- The criticality of area to the organization/business;
- Inherent business risks;
- Staffing levels and experience;
- The adequacy of management supervision and cognizance of controls;
- Resolution of previous audit recommendations; and,
- Compensating controls.