Authority and Responsibility
The Internal Audit Department has full, free, and unrestricted access to all University information, documents, records, and personnel in conjunction with audit activities. Information obtained during the course of audit activities will be held with appropriate confidentiality.
Utah State Law 63I-5-201 and Utah State Board of Regents Policy R567 provide the authority for the establishment, responsibilities and authority of the Internal Audit Department.
No officer, administrator, or staff member may interfere with or prohibit internal auditors from examining any University or related organization’s record or interviewing any employee or student that the auditors believe is necessary to carry out their duties.
The Internal Audit Department is responsible for conducting internal audits and evaluations of the University’s system of internal controls within the policies established by the State Board of Regents and DSU administration. The audits will include assessments of the reliability of departmental financial information, compliance with University policies and procedures, compliance with laws and regulations, safeguarding of assets and the effectiveness and efficiency of operations.
The Internal Audit Department has the responsibility to develop a flexible annual audit plan using an appropriate risk-based methodology, including any risks or control concerns identified by administration, and implement the plan as approved by the Board of Trustee’s Audit Committee.
Additionally, the Internal Audit Department has responsibility to maintain a professional audit staff with sufficient knowledge, skills, and experience to meet the requirements of this Charter, issue periodic reports summarizing results of audit activities, assist University administration by conducting special reviews and investigations and to assist the external auditors and regulators, as appropriate.
The Director of Internal Audit reports administratively to the Vice President of Administration and functionally to the Trustee Audit Committee with a direct line to the President as needed. The Director of Internal Audit also has direct access to committee members and all Officers on the Board of Trustees when circumstances warrant such communication.
Internal auditing is an independent appraisal function established within an organization to examine and evaluate its activities as a service to the organization.
In order for the desired results to be realized, auditors must perform their work fully and objectively, and be independent of the activities they audit. They must have no authority over or responsibility for the activities they audit.
In order to maintain independence and objectivity, an auditor will not be assigned audits involving the following instances:
- Any situation in which a conflict of interest or bias is present.
- Any situation that involves a member of the auditor’s immediate family.
Standards for the performance of the audit function are developed from the following:
The Standards for the Professional Practice of Internal Auditing (Institute of Internal Auditors).
The Statement of Responsibilities and Code of Ethics defined by the Association of College and University Auditors (ACUA).