This charter defines the policy of the University regarding internal audit and identifies the purpose, authority, and responsibility of the Office of Internal Audit.
It is the policy of the University of Wisconsin-Green Bay to provide an internal auditing function to assist management by reviewing all University operations at appropriate intervals, and provide analyses, appraisals, recommendations, counsel and data concerning the activities reviewed.
The internal auditing function is to ensure that UW-Green Bay maintains integrity, efficiency, and effectiveness of financial records and proper control of University assets. Although the Internal Audit Department is an integral part of the University, it performs independently of all other divisions and departments.
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.
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.
Internal Audit reports administratively to the Vice Chancellor of Business and Finance 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 Finance.
Internal Auditing is a staff function and has neither 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.
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-Green Bay 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