Accounting controls are designed to safeguard PSU's assets and ensure the accuracy of PSU's financial records.
Administrative controls are designed to promote operational efficiency and adherence to PSU's policies and procedures.
PSU's management is responsible for establishing and maintaining an adequate system of internal control.
Internal Audit is responsible for evaluating the adequacy of the existing controls and for making recommendations for improvement.
The Internal Auditor reports directly to PSU's President and indirectly to the Kansas Board of Regents.
The Internal Audit reports, including the auditee's responses to any recommendations that are made, are routinely routed to the responsible Department Chair or Director, the Dean (if appropriate), the appropriate Vice- President, the President, and upon request to the Kansas Board of Regents.
Most areas audited are selected based on an annual evaluation of risk performed by the Internal Auditor. However, some audits are based on specific requests by PSU's Administration, the audited area, and/or the Kansas Board of Regents.
Yes, we are required by Internal Auditing Standards to have a quality assurance review by our peers.
Direct PSU faculty or staff to change work methods or take corrective action to solve audit questions. Make financial or operating decisions.
These directions and decisions are the exclusive responsibility of management, including Department Chairs and Directors.
Internal Audit will (on a non-audit basis), if requested, discuss and make suggestions for preventive actions related to establishing or improving internal control and/or opportunity.