Frequently asked questions

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. 

• Implementation of internal controls is a prime responsibility of University Administrators and Supervisors. This includes Senior Management, Deans and Department heads.
• All employees play some role in the control environment.
• Other groups such as the Board of Governors play an important oversight role.
• Internal Audit contributes to the effectiveness of the controls, but is not responsible to establish or maintain them.

• Make objective assessments of operations.
• Share best practices.
• Foster cooperation and communication between and within campus departments.
• Provide suggestions to reduce costs, and/or improve profits.
• Provide consulting, assurance, and facilitation services.
• Ensure accuracy of financial records.
• Evaluate internal control in your respective area.
• Provide recommendations and follow-up.