Internal Audit

Internal AuditInternal AuditWho?

What?When?

How?Why?

In brief . . .

Internal Audit

WhoWho are we? are we?

We are an organization that provides both traditional and non-traditional services

We are not outside auditors

We are a constructive link between policy-making and operational levels of the University

Internal Audit

University organization chartWho?Who? (continued) (continued)

Internal Audit

Who?Who? (continued) (continued)

Representing over 100 years of combined experience

Randy Van Dyke, CPAAssistant Vice President

for Auditing and Risk Services

Pamela Mollner, CIAAudit Manager

Information Technology

Charles Piele, CIAAudit ManagerMain Campus

Mary Watson, BS, BBA

Internal AuditorFred Ericksen, CIA

Internal AuditorMichael Goodrich, CFE

Internal Auditor

Sanjeev PudasainiAssistant Internal Auditor

Marjorie Goodrich, CIAAudit Manager

Health Sciences

Heidi Sieg, CFE

Internal Auditor

VacantInternal Auditor

Mathew Mackay, BA

Internal AuditorGrishma Baduwal

Assistant Internal Auditor

Internal Audit

Who?Who? (continued) (continued)

Auditing

Financial

Operational

Information systems

Accounting

Governmental

Public and private

Fraud detection

Reporting

Management reporting

Financial reporting

Governmental cost accounting

In the following areas

Internal Audit

WhatWhat do we do? do we do?

We provide both traditional audits and non-traditional services designed to help define and/or meet your organization’s goals and objectives

Our less traditional services include:

Educational sessions Training materials Special projects

Internal Audit

What?What? (continued) (continued)

By evaluating the adequacy and effectiveness of the internal controls

And the quality of performance in carrying out assigned responsibilities

We perform traditional audits

Internal Audit

What?What? (continued) (continued)

Review the reliability and integrity of financial and operating information

Review the fiscal, operational, and administrative operations

Review the systems established to ensure compliance with policies, plans, procedures, laws, and regulations that could significantly impact operations

What is a traditional audit?

Internal Audit

What?What? (continued) (continued)

Evaluate the effectiveness and efficiency with which resources are employed

Evaluate the accomplishment of established objectives and goals

What is a traditional audit? (cont.)

Internal Audit

WhenWhen do we do it? do we do it?

Board of Regents requirements

Requests from vice presidents and key administrators

A risk assessment process that evaluates departments based on the resources under their control and the degree of change the department has experienced in recent years

A flexible audit schedule is prepared considering

Internal Audit

When?When? (continued) (continued)

The Internal Audit Department’s knowledge of existing operations, internal controls, and changes that are planned or in process for various financial systems and procedures

Training and expertise of the professional audit staff

Resources available to the Internal Audit Department

A flexible audit schedule is prepared considering (cont.)

Internal Audit

HowHow do we do it? do we do it?

Providing a summary of our own policies and procedures

Providing an outline (and video) of the concept of internal controls

Providing educational assistance, if necessary

We familiarize our clients with the internal audit function (prior to engagement) by

Internal Audit

How?How? (continued) (continued)

Initial response to internal control outline

Organization charts

Departmental policies and procedures

Any other documents that would help familiarize us with your organization

Copies of any external audits or other internal reviews that have been conducted

Internal control questionnaire

Organization charts

Policy and procedure

External audits and other info

We obtain pre-opening conference materials

Internal Audit

Present our department

Discuss your departmental internal controls

Review your pre-opening conference materials

How?How? (continued) (continued)

We recommend involving all appropriate faculty or staff members

We hold an opening conference to

Internal Audit

Interviewing key staff and management

Observing established procedures

Examining suporting documentation and evidential materials

Documenting organizational control activities

Performing analytical reviews

Compiling our own supporting workpapers

How?How? (continued) (continued)

Our activities include

Internal Audit

How?How? (continued) (continued)

Preparing the audit report and recommendations

Holding a closing conference to discuss the audit and obtain your responses to the recommendations

Issuing the final audit report including your responses

Performing a followup review in six months

Our activities include (cont.)

Internal Audit

WhyWhy have an Internal have an Internal Audit Department?Audit Department?

We are a constructive link between policy-making and operational levels of the University

Early warning system to identify financial and other risks

Identify opportunities for fiscal and operational improvement

Internal Audit

Internal Audit is in the Park Building

- Room 407 - 201 Presidents Circle Rm 407 - Salt Lake City, Utah 84112-9021

or Call: 581-5997