Internal Audit has been established at Pittsburg State University as an independent, objective assurance and consulting activity designed to add value and improve to the organization's operations. The objective of an internal audit activity is to help an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. To this end, internal auditing furnishes analysis, appraisals, recommendations, counsel, and information concerning the activities reviewed. The Internal Auditor is concerned with any phase of University activity where it can be of service to management.
The scope of activities of the Internal Auditor encompasses examining and evaluating the adequacy and effectiveness of the University’s systems of internal control and the operating efficiency of those controls against established higher education standards.
The scope of the examination and evaluation performed in divisions of the University includes:
Reviewing the reliability and the integrity of financial and operating information and the means used to identify, measure, classify and report such information.
Reviewing the systems established to ensure compliance with relevant policies, plans, procedures, laws, and regulations which could have a significant impact on a particular division’s operations or reports, and determining the extent to which Pittsburg State University is in compliance.
Reviewing the means of safeguarding assets and, as appropriate, verifying the existence of such assets.
Appraising the economy and the efficiency with which resources are employed.
Reviewing operations or programs to ascertain that the procedures of those operations or programs are being implemented as intended, and that results of that implementation are consistent with established objectives and goals.
The responsibility of the Internal Auditor is to serve Pittsburg State University in a manner that is consistent with the International Standards for the Professional Practice of Internal Auditing and with professional standards of conduct such as the Code of Ethics of the Institute of Internal Auditors, Inc. This includes coordinating activities with other internal and external providers of assurance and consulting services to ensure proper coverage and minimize duplication of efforts in order to best achieve the audit objectives of the organization.
Internal Audit is an integral part of the University and reports directly to the President and indirectly to the Kansas Board of Regents. The Internal Auditor shall remain independent and objective with the ability to report directly to the Kansas Board of Regents Audit Committee any situation wherein the auditor perceives a conflict of interest with, or on the part of, the President’s involvement with the subject of an audit.
In performing audits, the Internal Auditor shall assert no direct responsibility or authority over the activities being reviewed. Therefore, the review and appraisal of an activity does not in any manner relieve other persons within the institution of responsibilities assigned to them.
The Internal Auditor is to be advised of all external auditors from firms and Federal or State agencies who are performing audits on University or related corporation records, systems, or procedures.
All University offices and employees are expected to cooperate fully with Internal Audit in the performance of its duties. The Internal Auditor shall have full, free, and unrestricted access to any and all University functions, records, personnel, and properties deemed relevant to the activity under review. Audits of related corporations will only be authorized by invitation only, as the University and any affiliated corporations are separate legal entities.
Updated and Approved 2/1/2007