What are internal auditors looking for?
Internal auditors are primarily concerned with compliance with policies and adequate and a reasonable level of internal controls. Protection of assets is also important. All of these help protect the University from unnecessary risks and help to ensure sound business practices are consistent throughout the University.
Primarily compliance with university policies and sound internal controls. Cornell’s policies are designed to help ensure we all comply with applicable laws and regulations and operate efficiently. By following these policies we help protect the university from unnecessary risks and help ensure sound business practices are consistent throughout the university. University policies can be found here: http://www.policy.cornell.edu. However, not all internal controls can be codified in policy. If we find control weaknesses, we regularly make recommendations to implement a control even though it may not be specifically required by policy.
Internal auditors are primarily concerned with compliance with policies and the proper deployment of internal controls. Tufts’ policies are designed to help ensure its employees comply with applicable laws and regulations and operate their areas of responsibility efficiently. By following these policies, we help protect the University from unnecessary risks and ensure sound business practices are consistent throughout the University.
Related Questions
- Is FSCU available to answer questions relative to CALSTARS reports when auditors have sensitive questions they do not want to discuss with internal accounting staff?
- What training do internal auditors have to have completed and what does ‘independent from audited department’ mean in clause 3.5.2?
- Aren’t the internal auditors responsible for internal controls?
