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Charter

This charter defines the policy of the University regarding internal audit and identifies the purpose, authority, and responsibility of the Office of Internal Audit.

Policy

It is the policy of the University of Wisconsin-Eau Claire to provide an internal auditing function to assist management by reviewing all University operations at appropriate intervals, and provide analyses, appraisals, recommendations, counsel and information concerning the activities reviewed.

Purpose

Internal Auditing is an independent appraisal activity established to conduct reviews of operations and procedures and to report findings and recommendations as a service to management.

A major purpose of the internal audit function is the prevention and detection of fraud, embezzlement, and misappropriation of assets.

All Internal Auditing endeavors are to be conducted in accordance with University policies as well as the Code of Ethics and the Standards for the Professional Practice of Internal Auditing promulgated by The Institute of Internal Auditors.

Authority

Internal Audit reports administratively to the Vice Chancellor of Business and Student Services but may report audit matters directly to the Chancellor or to University of Wisconsin System Administration.

In performance of audits, the Internal Auditor is granted access to all University activities, records, property and employees. In this regard, the auditor will exercise discretion and assure the safekeeping and confidentiality of audit matters.

All requests for audits will be directed to the Vice Chancellor of Business and Student Services.

Internal Auditing is a staff function and has no direct responsibility for, nor the authority over, any of the activities reviewed. Therefore, an internal audit review in no way relieves management of any assigned responsibilities.

Because performance of line responsibilities may compromise objectivity, the Internal Auditor should not perform non-audit work except under unusual circumstances.

Responsibilities

The Office of Internal Audit has responsibility for:

  • Developing and maintaining a comprehensive internal auditing program for evaluating the financial and operational systems and procedures for all UW-Eau Claire activities.
  • Coordinating audit planning and scheduling activities with University administration.
  • Examining financial transactions for accuracy and evaluating compliance with internal policies and procedures, UW System policies, and governmental laws and regulations.
  • Ascertaining the adequacy of controls for safeguarding assets and, when appropriate, verifying the existence of assets.
  • Appraising the timeliness, reliability, and usefulness of institutional records and reports.
  • Evaluating the cost effectiveness and efficiency of institutional operations and the adequacy of meeting intended program objectives.
  • Evaluating systems of internal control for computing operations and the adequacy of records produced.
  • Serving as a liaison with external auditors and coordinating audit efforts with UW System Internal Audit to preclude duplication of effort and increase coverage of auditable areas.
  • Conducting follow-up reviews on audit reports issued by UW System, Legislative Audit Bureau, or other external agencies.
  • Serving on committees as appointed or elected.
  • Maintaining technical competence through continuing education and active involvement in professional activities.

 

Excellence. Our Measure. Our Motto. Our Goal.