Internal Audit
What is Internal Audit?
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.
- Institute of Internal Auditors, 2024
What is the purpose of Internal Auditing?
Internal auditing strengthens the organization's ability to create, protect, and sustain value by providing the board and management with independent, risk-based, and objective assurance, advice, insight, and foresight. Internal auditing enhances the organization's:
- Successful achievement of its objectives.
- Governance, risk management, and control processes.
- Decision-making and oversight.
- Reputation and credibility with its stakeholders.
- Ability to serve the public interest.
Internal auditing is most effective when:
- It is performed by competent professionals in conformance with the Global Internal Audit Standards, which are set in the public interest.
- The internal audit function is independently positioned with direct accountability to the board.
- Internal auditors are free from undue influence and committed to making objective assessments.
Our Role
The Internal Audit Department understands that the prospect of an audit can be daunting. Our role at the university is to help faculties, schools and divisions by ensuring processes, procedures and policies are adequate and are being followed. Our goal is to ensure that risks to the institution as well as your area are mitigated or eliminated.
