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Internal
auditing serves the university administrators of Appalachian State
University by reviewing and appraising the activities of the institution,
the integrity of its records, and the general effectiveness of
its operations. The objective of internal auditing is to assist
University management in the effective discharge of their responsibilities.
To this end, internal auditing furnishes them with analyses, appraisals,
recommendations, counsel and information concerning activities
under review.
The
general objectives of internal auditing at Appalachian State University
are:
•
Determining that the overall system of internal control and the
specific controls in each activity under audit are adequate, effective
and functioning;
• Insuring that institutional policies and procedures, state
and federal laws, contractual obligations and sound business practices
are followed;
• Verifying the existence of assets shown on the financial
records and ensuring maintenance of proper safeguards for their
protection; and
• Determining the adequacy and reliability of the accounting
and reporting systems and procedures.
ORGANIZATIONAL
RELATIONSHIP
The
Office of Internal Audits is directly responsible to the Chancellor.
The Office is headed by the Director of Internal Audits who reports
to the Chancellor. This reporting relationship ensures the independence
of the Office, promotes comprehensive audit coverage and assures
adequate consideration of audit recommendations.
Official reports prepared and issued by the Office of Internal
Audits as a result of a formal audit or review are issued to the
Vice Chancellor responsible for the area with copies of the reports
going to the manager of the area and other senior administrators
as appropriate. In addition, a copy of the report and the reply
from management is sent to the Chancellor.
The Director of Internal Audits serves as the University's liaison
with the North Carolina State Auditor. In this capacity, he coordinates
and assists with the annual financial audits upon request and
is on call to assist with interim audit work during the year as
a result of telephone calls to the State Auditor's fraud and abuse
hotline and to handle other audit and investigative requests as
needed.
The
Director serves as an advisor to the Vice Chancellors and Chancellor
on financial and management issues. The Director also attends
meetings of the Board of Trustees.
AUTHORITY
AND RESPONSIBILITY
The Office of Internal Audits, in the performance of audits and
with stringent accountabilities of safekeeping and confidentiality,
is granted unlimited access to all facilities, personnel and records
maintained, either electronically or manually, by all units of
the university and its affiliated organizations.
INDEPENDENCE
It
is understood that the Office of Internal Audits is independent
of the areas audited. It does not participate in the direct operation
of any activity of the university other than internal auditing.
The independence and objectivity of the internal auditing function
must be maintained at all times.
SCOPE
OF AUDITS
Internal audits and reviews are not limited in scope by campus
management. Audit responsibilities extend to all campus-managed
entities, all areas of operations and include all systems (manual
and electronic, in use or under development) that support the
activities of the campus.
STANDARDS
In
the performance of its responsibilities, the Office of Internal
Audits adheres to the Standards for the Professional Practice
of Internal Auditing, Code of Ethics, and Statement of Responsibilities
of The Institute of Internal Auditors, Inc.
Guidelines of the Information Systems Audit and Control Association,
the Association of College and University Auditors and the National
Association of College and University Business Officers are also
followed in internal audits and reviews.
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