Senior managers, who are in charge of various campus units, have oversight responsibility for the internal controls within their units. Mid level managers and supervisory personnel are responsible for executing control policies and procedures at the detail level within a specific unit. The role of Internal Auditing is to examine the adequacy and effectiveness of the various internal control systems on-campus and make recommendations in those areas where control improvements are needed. Since Internal Auditing must remain independent and objective, the internal audit function does not have the primary responsibility for establishing or maintaining the internal control systems. However, through the reviews performed and recommendations made by Internal Auditing, the effectiveness of the internal controls are enhanced.
Internal controls rely on the principle of checks and balances in the workplace.
These actions, along with other controls, protect the University from losses by limiting the presence of risk.