Who audits the Internal Audit Department?
The Legislative Auditors audit the Office of Internal Audit. They review the internal audit reports and workpapers as part of their standard audit of the University. Also, the Office of Internal Audit follows the Institute of Internal Auditors Standard 1300 – Quality Assurance and Improvement Program. “The chief audit executive should develop and maintain a quality assurance and improvement program that covers all aspects of the internal audit activity and continuously monitors its effectiveness. The program should be designed to help the internal auditing activity add value and improve the organization’s operations and to provide assurance that the internal audit activity is in conformity with the Standards and the Code of Ethics.
Currently, the quality assurance review is not performed at the College. However, the Office of Internal Audit follows the Standards of the Institute of Internal Auditors (IIA). Accordingly, periodically an outside review team performs a peer review and assesses the quality of our function and makes recommendations directly to the Audit & Governance Committee of the Board of Trustees. It is our goal to have this procedure implemented and completed by January 1, 2007, which is required by the IIA.
