Internal Audit Procedures

I. Purpose and Function

The Internal Audit function is to provide independent and objective evaluations, consultations, and reporting services; to ensure the efficient and effective use of financial and human resources; to foster and promote efficient program operations; and to monitor and assess institutional risks. Internal Auditing also provides consulting activity that is guided by the philosophy of providing value-added services and a disciplined approach to improving the operations of the College. This work includes identifying weaknesses in internal control practices that could result in fraud, waste, or abuse of resources. Internal Audit helps to ensure that the College complies with applicable policies, procedures, guidelines, statutes, and regulations.

II. Responsibilities

A. In accordance with the audit plan, the Internal Audit staff has authority and responsibility for conducting financial, enrollment, management, and compliance audits. The College President can specifically request operational efficiency audits of any area of the College. Each Vice President may also request an efficiency audit of an area he/she supervises.

B. In the conduct of an audit, the Internal Audit staff is authorized full and unrestricted access to College records, personnel files, and physical properties relevant to the performance of the audit. This includes having discussions and conversations with key leaders and employees around areas of concern, conducting compliance testing, obtaining and evaluating supporting documentation, and evaluating established processes and procedures.

C. On a periodic basis, the President and/or individual Vice Presidents meet with the Internal Auditor to review:

  1. Activity reports highlighting significant audit findings and recommendations;
  2. Follow-up monitoring and progress reports on the corrective actions taken or mitigation by management to remedy deficiencies or reduce risks; or,
  3. Outcomes of investigations into fraud, misuse, malfeasance or misfeasance, or other activities of concern to College management.

D. On an annual basis, the President and College Cabinet meets with the Internal Auditor to review a proposed, documented audit plan.