UNIVERSITY OF WEST GEORGIA

ANNUAL REPORT

Fiscal Year 2007 (July 1, 2006 to June 30, 2007)

DEPARTMENT OF

INTERNAL AUDIT

Name of Department Head

Cathy Osborne

Name of Person Completing Report

Cathy Osborne

1*

Departmental Mission/Vision Statement (url only, required)

http://www.bf.westga.edu/Auditor/

2*

Departmental Statement of Goals, Process to Assess These Goals, and Assessment Results (url only, required)

http://www.bf.westga.edu/EffectEval/Assessments/Audits.asp

3*

Give an Example of How your Department Used the Assessment of Goals and Outcomes to Change/Improve a Process (required)

The Institute of Internal Auditing Inc definition of 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 results of the Department of Internal Audit actions through audits, investigations, and various risk assessment exercises has impacted the following changes and/or provided reasonable assurances to the University’s management for requested areas.

• UWG exercise due diligence endowment earnings annual allocation
• Financial Aid’s relationship with third party lenders
• Issuance and payment processing of P-Card controls

4*

General Statement of Department Condition (required)

The Department of Internal Audit benefited from the staff auditor position being filled for seven months of fiscal year 2007.  A new position, requiring educational experience was added to the department.  The lead auditor position was filled in late January.  The second half of FY2007 saw an increase in training activities including exposure to current audit standards, applicable policies and procedures, and an introduction to departmental audits.

The Department’s future success will be dependent upon on its ability to maintain continuity in personnel.

5

Departmental Achievements

The Department does not gauge its achievements and success by the number of problems identified but rather how we can assist UWG’s “family.”  During the past year, the Department of Internal Audit achieved the following:

a.       Functioned as the liaison to the State Auditor’s audit/review of UWG’s annual financial report.

b.      Functioned as the liaison to the State Auditor’s audit of the University System’s residency requirements.

c.       Follow-up of UWG’s corrective action plan to the Board of Regents’ information technology audit.

d.      Provided audit and investigative services for the campus.

e.       Successful development of Fiscal Year 2008’s Audit Plan.

6

Staff Productivity

a)      Successful liaison to the State Auditor’s review of UWG’s annual financial report and other various reporting requirements. 

b)      Expanded the audit coverage of the campus

c)      Continued with the departmental audit program.

d)      Successful development of Fiscal Year 2008’s Audit Plan.

e)      The Department’s director

1.      Meets with the President once each month

2.      Meets with the Vice President for Business and Finance once each month

3.      Submits Status Audit Reports to Associate Vice Chancellor for Internal Audit

f)        Staff members participated in the following:

1.      UWG’s training series

                                                               i.      Budget (2)

                                                             ii.      Travel

2.      BOR’s Fiscal Year-End training

3.    Association of College and University Auditors’ (ACUA)

                                         i.    Annual conference

                                        ii.    Mid-Year conference

                                       iii.    Several webcasts

§      EthicsPoint

4.      Deloitte & Touche LLP webcasts 

5.      Tax Institute for Colleges and Universities

                                                              i.      Annual conference

g)    Audits (new and follow-up) and/or rendered Advisory Services

1.      Audits

                                                              i.      Follow-up: Information Technology

§         TPC

§         TCC

                                                           ii.      Departmental Audits

§         Mathematics

§         Management

§         Accounting & Finance

§         Auxiliary Services – Director’s Office

                                                         iii.      FY end Inventories

§         Bookstore

§         Central Warehouse

                                                        iv.      Lab Fees/Lab Vouchers – closure

2.      Investigations

                                                              i.      Anonymous reports

                                                           ii.      Funds-unaccounted for

7

Student Achievements

Not applicable – FY2007

8

Other Awards, Distinctions, and Achievements