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8/10/2019 Role of Internal Audit Department
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UNM Internal Audit Department
Research Administrators Network
The Role of theInternal Audit Department
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UNM Internal Audit Department
Research Administrators Network
Definition of Internal AuditingInternal auditing is an independent,
objective assurance and consulting activitydesigned to add value and improve anorganization's operations. It helps anorganization accomplish its objectives bybringing a systematic, disciplined approachto evaluate and improve the effectiveness of
risk management, control, and governanceprocesses. The Institute of Internal Auditors
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UNM Internal Audit Department
Research Administrators Network
Were Here to Help!
Identify Risks
Find Better Ways and Best Practices Partner With You to Find Solutions Prevent Problems
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UNM Internal Audit Department
Research Administrators Network
We Report to the Board of Regents Audit Committee
- Ensures independence
Elevate issues to a level where they can becorrected
Keeps Regents informed
Meets quarterly
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UNM Internal Audit Department
Research 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, improperreporting, ineffective or inefficient use ofresources, credibility loss, etc.
Focus on areas with high risk and high probabilitythat controls are not in place or are weak
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UNM Internal Audit Department
Research Administrators Network
We have a plan! Risk based audit plan developed with input
from across the University Risk factors:
Impact Probability
Controls
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UNM Internal Audit Department
Research Administrators Network
What Is the Plan?
List of audits for fiscal year
Based on risk assessment andavailable man hours
Includes estimated budget hours
and completion date Approved by Audit Committee
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UNM Internal Audit Department
Research Administrators Network
Auditable EntitiesWE DO AUDIT
Operations andcompliance
Departments Colleges or Schools Programs, Grants,
Contracts Information Technology
Systems University-wide Processes
WE DO NOT AUDIT
Specific individuals
Human Resourceissues
Sexual harassment or
other civil rightsissues
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UNM Internal Audit Department
Research Administrators Network
Internal Audit is Intake Point forWhistleblowers
University policy requires Internal Audit to receivereports of
MisconductFraud
Several ways to reportHotlineE-mailPhone
Walk in
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UNM Internal Audit Department
Research Administrators Network
Who Are We?
We are University employeesWe are certified
public accountants,internal auditors,fraud examiners andinformation system auditors
We are a staff of 7 auditors
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UNM Internal Audit Department
Research Administrators Network
Its 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.
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UNM Internal Audit Department
Research Administrators Network
Preventive Measures Make sure your controls are working Review and reconcile Check the work of your subordinates Dont give in to the temptation to skip
controls because you are busy!
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UNM Internal Audit Department
Research 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
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Research Administrators Network
What happens after the audit?
Follow-up Review corrective action Report to Audit Committee
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UNM Internal Audit Department
Research Administrators Network
Who Audits the Auditors?
We must have a peer review at least onceevery five years
Our Standards are set by the Institute ofInternal Auditors, and the AmericanInstitute of Certified Public Accountants
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UNM Internal Audit Department
Research Administrators Network
We Want to Know How We Are Doing
At the completion of each audit we willsend 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.
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UNM Internal Audit Department
Research Administrators Network
We are here to help
We provide training Respond to policy and
technical accountingquestions
Offer suggestions forimprovement
Advisory role
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UNM Internal Audit Department
Research Administrators Network
Christine Chavez
Director of Internal Audit
277-5016
1801 Roma NE