The Role of the Internal Audit Department

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1. The Role of the Internal Audit Department
2. Research Administrators NetworkDefinition of Internal Auditing“Internal auditing
3. Research Administrators NetworkWe’re Here to Help!Identify RisksFind
4. Research Administrators NetworkWe Report to the Board
5. Research Administrators NetworkWhat is Risk Based Auditing?Focus
6. Research Administrators NetworkWe have a plan!Risk based
7. Research Administrators NetworkWhat Is the Plan? List
8. Research Administrators NetworkAuditable EntitiesWE DO AUDITOperations and
9. Research Administrators NetworkInternal Audit is Intake Point
10. Research Administrators NetworkInvestigations of Fraud and Employee
11. Research Administrators NetworkWho Are We?We are University
12. Research Administrators NetworkIt’s the “little” things that
13. Research Administrators NetworkPreventive MeasuresMake sure your controls
14. Research Administrators NetworkWhat is included in the
15. Research Administrators NetworkWhat happens after the audit? Follow-up Review corrective action Report to Audit Committee
16. Research Administrators NetworkWho Audits the Auditors?We must
17. Research Administrators NetworkWe Want to Know How
18. Research Administrators NetworkWe are here to helpWe
19. Research Administrators NetworkChristine Chavez Director of Internal Audit277-50161801 Roma NE
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Research Administrators NetworkDefinition of Internal Auditing“Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives

Слайды и текст этой презентации

Слайд 1Research Administrators Network
The Role of the Internal Audit Department

Слайд 2Research Administrators Network
Definition of Internal Auditing
“Internal auditing is an independent,

objective assurance and consulting activity designed to add value and

improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. ” The Institute of Internal Auditors

Research Administrators NetworkDefinition of Internal Auditing“Internal auditing is an independent, objective assurance and consulting activity designed to

Слайд 3Research Administrators Network
We’re Here to Help!
Identify Risks
Find Better Ways and

Best Practices
Partner With You to Find Solutions
Prevent Problems

Research Administrators NetworkWe’re Here to Help!Identify RisksFind Better Ways and Best PracticesPartner With You to Find SolutionsPrevent

Слайд 4Research Administrators Network
We Report to the Board of Regents Audit

Committee
- Ensures independence
Elevate issues to a level where they can

be corrected
Keeps Regents informed
Meets quarterly

Research Administrators NetworkWe Report to the Board of Regents Audit Committee - Ensures independenceElevate issues to a level

Слайд 5Research Administrators Network
What is Risk Based Auditing?
Focus on risk of

occurrences that could prevent the University from achieving its goals
There

are many types of risk – fraud, improper reporting, ineffective or inefficient use of resources, credibility loss, etc.
Focus on areas with high risk and high probability that controls are not in place or are weak

Research Administrators NetworkWhat is Risk Based Auditing?Focus on risk of occurrences that could prevent the University from

Слайд 6Research Administrators Network
We have a plan!
Risk based audit plan developed

with input from across the University
Risk factors:
Impact
Probability
Controls

Research Administrators NetworkWe have a plan!Risk based audit plan developed with input from across the UniversityRisk factors:ImpactProbabilityControls

Слайд 7Research Administrators Network
What Is the Plan?
List of audits for

fiscal year
Based on risk assessment and available man hours

Includes estimated budget hours and completion date
Approved by Audit Committee

Research Administrators NetworkWhat Is the Plan? List of audits for fiscal year Based on risk assessment and

Слайд 8Research Administrators Network
Auditable Entities
WE DO AUDIT
Operations and compliance
Departments
Colleges or Schools
Programs,

Grants, Contracts
Information Technology Systems
University-wide Processes

WE DO NOT AUDIT
Specific individuals
Human

Resource issues
Sexual harassment or other civil rights issues

Research Administrators NetworkAuditable EntitiesWE DO AUDITOperations and complianceDepartmentsColleges or SchoolsPrograms, Grants, ContractsInformation Technology SystemsUniversity-wide Processes WE DO

Слайд 9Research Administrators Network
Internal Audit is Intake Point for Whistleblowers
University policy

requires Internal Audit to receive reports of
Misconduct
Fraud
Several ways to report
Hotline
E-mail
Phone
Walk

Research Administrators NetworkInternal Audit is Intake Point for WhistleblowersUniversity policy requires Internal Audit to receive reports of Misconduct FraudSeveral

Слайд 10Research Administrators Network
Investigations of Fraud and Employee Misconduct
Whenever possible we

will refer to the appropriate Dean, University Police, OEO or

Human Resources for investigation
University policy requires Internal Audit to investigate if financial or operational
Internal Audit coordinates and reports to the State Auditor

Research Administrators NetworkInvestigations of Fraud and Employee MisconductWhenever possible we will refer to the appropriate Dean, University

Слайд 11Research Administrators Network
Who Are We?
We are University employees
We are certified

public accountants,
internal auditors,
fraud examiners and information system auditors
We

are a staff of 7 auditors

Research Administrators NetworkWho Are We?We are University employeesWe are certified public accountants, internal auditors, fraud examiners and

Слайд 12Research Administrators Network
It’s the “little” things that get you!
Misreporting hours.
Forgetting

to obtain prior approval when needed.
Using estimates that are not

supported.
Any violation of University policy.

Research Administrators NetworkIt’s the “little” things that get you!Misreporting hours.Forgetting to obtain prior approval when needed.Using estimates

Слайд 13Research Administrators Network
Preventive Measures
Make sure your controls are working
Review and

reconcile
Check the work of your subordinates
Don’t give in to the

temptation to skip controls because you are busy!

Research Administrators NetworkPreventive MeasuresMake sure your controls are workingReview and reconcileCheck the work of your subordinatesDon’t give

Слайд 14Research Administrators Network
What is included in the audit report?
What was

found
Why it happened
What is required
What effect it has
Recommendation for improvement
Response

– who, when and how

Research Administrators NetworkWhat is included in the audit report?What was foundWhy it happenedWhat is requiredWhat effect it

Слайд 15Research Administrators Network
What happens after the audit?
Follow-up
Review corrective

action
Report to Audit Committee

Слайд 16Research Administrators Network
Who Audits the Auditors?
We must have a peer

review at least once every five years
Our Standards are set

by the Institute of Internal Auditors, and the American Institute of Certified Public Accountants

Research Administrators NetworkWho Audits the Auditors?We must have a peer review at least once every five yearsOur

Слайд 17Research Administrators Network
We Want to Know How We Are Doing
At

the completion of each audit we will send an after-audit-survey
We

want you to rate our performance
Were we professional, helpful, timely and did we add value?
Please take the time to give us your feedback.

Research Administrators NetworkWe Want to Know How We Are DoingAt the completion of each audit we will

Слайд 18Research Administrators Network
We are here to help
We provide training
Respond to

policy and technical accounting questions
Offer suggestions for improvement
Advisory role

Research Administrators NetworkWe are here to helpWe provide trainingRespond to policy and technical accounting questionsOffer suggestions for

Слайд 19Research Administrators Network
Christine Chavez Director of Internal Audit
277-5016
1801 Roma NE

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The Role of the Internal Audit Department

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Слайд 1Research Administrators NetworkThe Role of the Internal Audit Department

Слайд 2Research Administrators NetworkDefinition of Internal Auditing“Internal auditing is an independent,

objective assurance and consulting activity designed to add value and

Слайд 3Research Administrators NetworkWe’re Here to Help!Identify RisksFind Better Ways and

Best PracticesPartner With You to Find SolutionsPrevent Problems

Слайд 4Research Administrators NetworkWe Report to the Board of Regents Audit

Committee - Ensures independenceElevate issues to a level where they can

Слайд 5Research Administrators NetworkWhat is Risk Based Auditing?Focus on risk of

occurrences that could prevent the University from achieving its goalsThere

Слайд 6Research Administrators NetworkWe have a plan!Risk based audit plan developed

with input from across the UniversityRisk factors:ImpactProbabilityControls

Слайд 7Research Administrators NetworkWhat Is the Plan? List of audits for

fiscal year Based on risk assessment and available man hours

Слайд 8Research Administrators NetworkAuditable EntitiesWE DO AUDITOperations and complianceDepartmentsColleges or SchoolsPrograms,

Grants, ContractsInformation Technology SystemsUniversity-wide Processes WE DO NOT AUDITSpecific individualsHuman

Слайд 9Research Administrators NetworkInternal Audit is Intake Point for WhistleblowersUniversity policy

requires Internal Audit to receive reports of Misconduct FraudSeveral ways to report Hotline E-mail Phone Walk

Слайд 10Research Administrators NetworkInvestigations of Fraud and Employee MisconductWhenever possible we

will refer to the appropriate Dean, University Police, OEO or

Слайд 11Research Administrators NetworkWho Are We?We are University employeesWe are certified

public accountants, internal auditors, fraud examiners and information system auditorsWe

Слайд 12Research Administrators NetworkIt’s the “little” things that get you!Misreporting hours.Forgetting

to obtain prior approval when needed.Using estimates that are not

Слайд 13Research Administrators NetworkPreventive MeasuresMake sure your controls are workingReview and

reconcileCheck the work of your subordinatesDon’t give in to the

Слайд 14Research Administrators NetworkWhat is included in the audit report?What was

foundWhy it happenedWhat is requiredWhat effect it hasRecommendation for improvementResponse

Слайд 15Research Administrators NetworkWhat happens after the audit? Follow-up Review corrective

action Report to Audit Committee

Слайд 16Research Administrators NetworkWho Audits the Auditors?We must have a peer

review at least once every five yearsOur Standards are set

Слайд 17Research Administrators NetworkWe Want to Know How We Are DoingAt

the completion of each audit we will send an after-audit-surveyWe

Слайд 18Research Administrators NetworkWe are here to helpWe provide trainingRespond to

policy and technical accounting questionsOffer suggestions for improvementAdvisory role

Слайд 19Research Administrators NetworkChristine Chavez Director of Internal Audit277-50161801 Roma NE

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