19 September 2013
Definition of Internal Audit 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 process.
Mission Statement The mission is to provide a wide range of quality audit and consulting services to our internal customers in an effort to add value, improve processes and assist the organisation in reaching its goals and objectives. It is accomplish our mission by: Mission Statement Using innovative approaches in performing independent assessments of systems, controls and efficiencies; guided by professional standards Supporting our customer’s efforts to achieve their objectives Promoting the full understanding, acceptance, and utilization of the internal auditing function by all levels of university management Rendering assessments and advice for improving activities that will advance the goals and objectives of the university Maintaining a dynamic, team-oriented environment, which encourages personal and professional growth, and challenges and rewards audit staff for excelling and reaching their full potential Reporting Structure We report functionally to the Executive (audit) Committee of the Board of Trustees and administratively to the president. Our reporting structure and charter allows us to be independent of the functions we audit and gives us the authority needed for full, free and unrestricted access to all operations, records, property and personnel within the University Professional Standards and Code of Ethics The Institute of Internal Auditors issues “Standards for the Professional Practice of Internal Auditing”. These standards are commonly referred to as “Red Book”. Internal Audit recognizes the benefits of IIA standards and adopts the use thereof. The United States General Accounting Office issues the “Generally Accepted Government Auditing Standards” (GAGAS), for use by auditors who audit governmental organizations, programs, activities and functions. These standards are commonly referred to as “Yellow Book”. Internal Audit recognizes the benefits of GAGAS and adopts the use thereof. Additionally, Internal Audit staff members have an obligation of self-discipline above and beyond the requirements of laws and regulations. They must uphold and demonstrate qualities of integrity, honesty, loyalty, morality, dignity, and confidentiality consistent with the “Institute of Internal Auditors Code of Ethics”
19 September 2013
Definition of Internal Audit 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 process.
Mission Statement The mission is to provide a wide range of quality audit and consulting services to our internal customers in an effort to add value, improve processes and assist the organisation in reaching its goals and objectives. It is accomplish our mission by: Mission Statement Using innovative approaches in performing independent assessments of systems, controls and efficiencies; guided by professional standards Supporting our customer’s efforts to achieve their objectives Promoting the full understanding, acceptance, and utilization of the internal auditing function by all levels of university management Rendering assessments and advice for improving activities that will advance the goals and objectives of the university Maintaining a dynamic, team-oriented environment, which encourages personal and professional growth, and challenges and rewards audit staff for excelling and reaching their full potential Reporting Structure We report functionally to the Executive (audit) Committee of the Board of Trustees and administratively to the president. Our reporting structure and charter allows us to be independent of the functions we audit and gives us the authority needed for full, free and unrestricted access to all operations, records, property and personnel within the University Professional Standards and Code of Ethics The Institute of Internal Auditors issues “Standards for the Professional Practice of Internal Auditing”. These standards are commonly referred to as “Red Book”. Internal Audit recognizes the benefits of IIA standards and adopts the use thereof. The United States General Accounting Office issues the “Generally Accepted Government Auditing Standards” (GAGAS), for use by auditors who audit governmental organizations, programs, activities and functions. These standards are commonly referred to as “Yellow Book”. Internal Audit recognizes the benefits of GAGAS and adopts the use thereof. Additionally, Internal Audit staff members have an obligation of self-discipline above and beyond the requirements of laws and regulations. They must uphold and demonstrate qualities of integrity, honesty, loyalty, morality, dignity, and confidentiality consistent with the “Institute of Internal Auditors Code of Ethics”
CAclubindia
