internal audit objectives

The University environment requires a multifaceted or integrated approach to serve the needs of the community.  A combination of specific skills, specialization and experience is needed - assembling audit resources into a "perfect" blend.  Therefore, our objectives as a service to the University ( as outlined in COSO* and professional internal auditing standards) is to assist in:

  1. Ensuring adequate internal controls

  2. Ensuring operational effectiveness (doing it right) and/or efficiency (doing it well) and

  3. Ensuring compliance with laws, regulations and policies.

The function accomplishes these objectives through a systematic, disciplined approach designed to measure how the function impacts the University (enhance revenue, manage costs, improve processes and most of all - control risks).

*COSO - The Committee of Sponsoring Organizations of the Treadway Commission provides guidance on organizational governance, business ethics, internal control, enterprise risk management, fraud and financial reporting.

Meadows Museum and 'Wave' at night 
Meadows Museum - Wave by the Spanish artist and architect Santiago Calatrava