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    Role of Internal Audit

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    nisaanf
    The UNM Internal Audit Department provides independent and objective auditing services to evaluate risk management, controls, and governance processes. They conduct risk-based audits of university operations, departments, and programs. The department reports to the Board of Regents Audit Committee to ensure independence. They develop an annual audit plan based on risk assessments and available resources. The Internal Audit Department serves as the intake point for whistleblower reports and investigates allegations of fraud or misconduct. The auditors provide recommendations in audit reports and follow up to ensure corrective actions are implemented.

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    Role of Internal Audit

    Uploaded by

    nisaanf
    127 views19 pages
    The UNM Internal Audit Department provides independent and objective auditing services to evaluate risk management, controls, and governance processes. They conduct risk-based audits of university operations, departments, and programs. The department reports to the Board of Regents Audit Committee to ensure independence. They develop an annual audit plan based on risk assessments and available resources. The Internal Audit Department serves as the intake point for whistleblower reports and investigates allegations of fraud or misconduct. The auditors provide recommendations in audit reports and follow up to ensure corrective actions are implemented.

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    The UNM Internal Audit Department provides independent and objective auditing services to evaluate risk management, controls, and governance processes. They conduct risk-based audits of university operations, departments, and programs. The department reports to the Board of Regents Audit Committee to ensure independence. They develop an annual audit plan based on risk assessments and available resources. The Internal Audit Department serves as the intake point for whistleblower reports and investigates allegations of fraud or misconduct. The auditors provide recommendations in audit reports and follow up to ensure corrective actions are implemented.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    127 views19 pages

    Role of Internal Audit

    Uploaded by

    nisaanf
    The UNM Internal Audit Department provides independent and objective auditing services to evaluate risk management, controls, and governance processes. They conduct risk-based audits of university operations, departments, and programs. The department reports to the Board of Regents Audit Committee to ensure independence. They develop an annual audit plan based on risk assessments and available resources. The Internal Audit Department serves as the intake point for whistleblower reports and investigates allegations of fraud or misconduct. The auditors provide recommendations in audit reports and follow up to ensure corrective actions are implemented.

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    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 19

    UNM Internal Audit Department

    The Role of the


    Internal Audit Department

    Research

    UNM Internal Audit Department

    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

    UNM Internal Audit Department

    Were Here to Help!

    Identify Risks
    Find Better Ways and Best Practices
    Partner With You to Find Solutions
    Prevent Problems
    Research

    UNM Internal Audit Department

    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

    UNM Internal Audit Department

    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

    UNM Internal Audit Department

    We have a plan!
    Risk based audit plan developed with input
    from across the University
    Risk factors:
    Impact
    Probability
    Controls

    Research

    UNM Internal Audit Department

    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

    UNM Internal Audit Department

    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

    UNM Internal Audit Department

    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
    Research
    Walk in

    UNM Internal Audit Department

    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

    UNM Internal Audit Department

    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

    UNM Internal Audit Department

    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.

    Research

    UNM Internal Audit Department

    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!

    Research

    UNM Internal Audit Department

    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

    UNM Internal Audit Department

    What happens after the audit?


    Follow-up
    Review corrective action
    Report to Audit Committee

    Research

    UNM Internal Audit Department

    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

    UNM Internal Audit Department

    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

    UNM Internal Audit Department

    We are here to help


    We provide training
    Respond to policy and
    technical accounting
    questions
    Offer suggestions for
    improvement
    Advisory role

    Research

    UNM Internal Audit Department

    Christine Chavez
    Director of Internal Audit

    277-5016
    1801 Roma NE
    Research

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