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I.        PURPOSE

To outline the roles and responsibilities of the Department of Internal Audit and those of the schools and units that are audited.

Under the Board of Trustees and reporting to the Senior Vice President for Administration and Finance, the Associate Vice President of Internal Audit shall ensure compliance with and implement this policy.

Internal Audit is a University-wide independent appraisal activity established to conduct reviews of operations and procedures and to report findings and recommendations to the audited school or unit as well as senior management or the Board of Trustees, as appropriate.

A.    Requirements:

        1.    Internal Audit's function includes, but is not limited to:

               a.    appraising the effectiveness of administrative, operating, financial and computer controls and
                      ascertain the accuracy and reliability of data developed within the University.

               b.    ascertaining that University business is conducted according to University policies and
                      procedures.

               c.    evaluating the adequacy of controls for safeguarding University assets and, when appropriate,
                      verifying their existence.

               d.    performing special reviews requested by senior management or the Board of Trustees.

               e.    conducting appraisals of effectiveness and efficiency in the use of University resources and
                      making appropriate recommendations to senior management.

        2.    In carrying out their duties and responsibilities, members of the Internal Audit department will have
               full, free and unrestricted access to all University activities, records, property, and personnel.

                  1.    The Internal Audit Department is responsible for:

                         a.    conducting audits as outlined in an annual audit plan approved by senior management and reporting
                                findings to the appropriate Dean or Vice President or designee and to senior management at the
                                conclusion of the audit so that corrective action may be taken.

                         b.    performing periodic follow-up subsequent to the issuance of the audit report to ensure that corrective
                                action has been taken by the audited school or unit in a timely manner.

                  2.    The Dean or Vice President or designee of the school or unit being audited is responsible for:

                         a.    making available to the auditors documentation related to administrative, operating, financial and
                                computer controls that are implemented.

                         b.    making available to the auditors policies, procedures, contracts or agreements governing their
                                operation.

                         c.    participating in audit meetings as required, during and at the conclusion of the audit.

                         d.    making personnel available to respond to questions during the audit and to act on recommendations
                                that arise as a result of the audit findings.

                         e.    providing a timely written response to the audit report with an implementation timetable indicating
                                when corrective action will be taken.

By Direction of the President:
 

__________________________________________
Senior Vice President for Administration and Finance    

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