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Department of Internal Audit fy 2005 annual report Departmental The mission of the Department of Internal Audit is to
support the University in the pursuit of its mission to provide opportunities
for intellectual and personal development through quality teaching, scholarly
inquiry, creative endeavor and service for the public good. The
Department’s mission is to add value, insuring UWG continues to provide
its customers with the highest quality of services in the most efficient and
effective manner to meet or exceed its overall goals. The
Department of Internal Audit is committed to the support of the University’s
continuous pursuit of maintaining its high level of standards and ethics in
providing the The
Department insures through coordination of Federal, State, and Regents audits. The University receives an objective opinion
designed to add value and improve the University’s operations.
Every effort is made to comply with the industry standards, as defined by the Institute
of Internal Auditors’ Professional Standards in
satisfying the expectations and needs of management. The department
conducts audits, scheduled and unscheduled, to provide management an independent
appraisal of the University’s compliance with policies, procedures, laws, and
regulations. The department’s flexibility insures the University’s
administration the desired level of confidence in maintaining adequate internal
controls. Departmental Statement
of Goals, Process
to Assess These Goals, and Assessment Results: Goal # 1: Insure through coordination of audits conducted by Federal, State, and Board of Regents auditors to provide the University an objective opinion designed to add value and improve the University’s operations. Assessment for Goal # 1: Evaluate the risk exposure for all UWG’s auditable areas along with conducting objective evaluation and analysis. Provide assistance to each auditable area in the development and implementation of their corrective action plan. Goal
# 2: Insure
compliance with the industry standards, as defined by the Institute of Internal Auditors’ Professional
Standards with special emphasis placed on independence. Assessment for Goal #
2: Active participation
in the University System’s Peer Review
process, along with the initial phase of self-assessment. Goal # 3: Fulfill the expectations and needs of management. Assessment for Goal #
3: Develop an annual audit plan with the approval of the University’s
President and Vice President for Business and Finance and the University System’s
audit committee. Examine and evaluate of
the adequacy and effectiveness of the UWG’s system
of internal controls. Goal # 4: Conduct both scheduled and unscheduled audits in order to provide management independent appraisals of the University’s compliance with policies, procedures, laws, and regulations. Assessment for Goal # 4: Active
reconciliation of accounts and testing of key controls designed to insure
compliance. Identify weaknesses and make
constructive recommendations to UWG’s administration. Goal # 5: To offer internship opportunities to qualified accounting majors in their final year of undergraduate study. Provide these students with “hands-on” work experience in a professional environment. Assessment for Goal # 5: The
student interns engages in the research of applicable policies and procedures,
development and execution an audit program, coordination of “exit” conference
with auditee, and preparation of audit report distributed to UWG administration
and Board of Regents’ Associate Vice Chancellor. Departmental Statement of Outcomes, Processes to
Assess These Outcomes, and Assessment Results Where Appropriate: Outcome # 1: The results of the Department of Internal Audit’s
audit. Assessment for Outcome # 1: The Department’s ability to work with the auditee to develop and implement a corrective action plan that is satisfactory to everyone. Outcome # 2: The results of an external auditors’ audit. Assessment for Outcome #2: The Department of Internal Audit’s ability to work with the auditee and the external auditors. The Department’s ability to maintain its objectivity is critical in the development and implementation of a corrective action plan satisfactory to everyone. General Statement of Departmental Condition: The
Department of Internal Audit is in sound working order. The department is completing it first year of
having the staff auditor
position filled. This fact alone has greatly
improved the department’s opportunity to complete this fiscal year’s audit plan.
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:
Staff Productivity
i. Purchasing Information ii. Software sessions: § Monarch § Excel
i. Unrelated Business Income
ii.
Contractor Liability
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