Evaluates the effectiveness of controls within the University's financial and operating systems. It appraises the integrity of financial and operating information and the means of generating and reporting that information. Evaluates financial and operating systems to ensure that they comply with Board of Trustee policies, objectives, standards, and procedures, as well as federal and state laws and regulations. Evaluates controls and security implications of computer-based systems under development, or modification, and the system development process. Evaluates the adequacy of methods utilized to safeguard assets from loss.
Coordinates audit coverage with external auditors.
The Internal Audit Department submits its findings and recommendations in written reports which are typically addressed to the manager of the area under review. Reports may also be sent to the CFO, President or Chancellor, as applicable. A few selected reports are also forwarded to the Board of Trustee's Audit Committee. Reports on alleged illegal or fraudulent activities may require special distribution. Written replies to draft audit reports are required.