Internal Audit Role, Mission and Activities

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Internal AuditRole, Mission and Activities

• Board of Regents General Study Session
• March 21, 2007
• Jean Stewart
• Director, Internal Audit

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Structure and Location

• Reports functionally to the Board of Regents
  through the Regent Audit Committee
• Reports administratively to the President
• Location
• Primary office 4840 Pearl East Circle, Boulder
• Satellite offices
• Anschutz Medical Campus
• Lawrence Street Center

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Staffing

• 13 authorized positions
• Director
• 2 information technology auditors
• 9 general auditors
• 1 admin assistant

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Role

• To provide independent, objective assurance and
  consulting activity designed to add value and
  improve the Universitys operations.1
• 1Internal Audit Charter, approved by Board of
  Regents 11/02/2006

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Objectives

• Evaluates whether University processes, as
  designed and represented by management, are
  adequate and functioning in a manner to help
  ensure

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Objectives

• Compliance with laws, regulations and policies
• Reliability of information
• Assets are protected from loss
• University objectives are achieved
• Efficiency and effectiveness

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Specific Activities

• Examination - audits and investigations
• Consultation
• Education

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How We Decide What To Audit

• Annual Planning risk-based approach
• - Understand Audit Universe
• processes
• units
• - Identify Risks Common to Higher Education
• - Talk with Management

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Current Audit Plan

• Processes (primarily objectives- compliance and
  asset protection)
• HR/payroll U-wide
• Expense reimburse high level
  administrators U-wide
• Disaster recovery and business continuity
  U-wide
• Financial aid UCDHSC-DD
• Construction processes UCDHSC-H
• Financial Reporting System SYS info
  reliability

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Current Audit Plan

• Organizational unit (primarily objectives-
  compliance and asset protection)
• College of Education UCCS
• Neurology Dept UCDHSC-H
• Athletics Dept UCB
• CUREF affiliate
• College of Nursing UCCS
• Extended Studies UCDHSC-DD and UCCS
• Large IT system gen security controls review -
  TBD

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More Info
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Contact Information

• https//www.cusys.edu/audit/
• Jean Stewart
• 303-492-9740
• Jean.Stewart_at_cusys.edu