DEPARTMENT OF
INTERNAL AUDIT
VISION
Internal Audit is the right-arm resource unit of the
University’s management in its quest for sound financial,
operational and managerial controls.
MISSION
Our mission is to ensure that the University’s administration
and Board of Trustees have sound and effective control mechanism
at their disposal to effectively discharge their
responsibilities. With our expertise and professional judgment,
we will provide an independent appraisal of the University's
financial, operational, and control activities. We will report
on the adequacy of internal controls, the accuracy and propriety
of transactions, the extent to which assets are accounted for
and safeguarded, and the level of compliance with institutional
policies and government laws and regulations. Additionally, we
will provide analyses, recommendations, counsel, and information
concerning the activities reviewed.
OBJECTIVES
-
Evaluate financial
and operational procedures for adequacy of internal controls
and provide advice and guidance on control aspects of new
policies, systems, processes and procedures.
-
Determine the
accuracy and propriety of financial transactions
-
Ensure that proper controls and
safeguards are maintained to protect the University’s assets
(tangible and intangible) from impairment, loss and
unauthorized use and/or disposal.
-
Determine the level of compliance
with University policies and procedures, local, state and
federal laws and regulations and other contractual covenants.
-
Evaluate the
accuracy, effectiveness and efficiency of the University's
electronic information and processing systems
-
Determine the
effectiveness and efficiency of departments in accomplishing
their mission and identify operational opportunities for cost
savings and revenue enhancements.
-
Provide assistance
in audits performed by the Auditor of State and/or other
external auditors.
- Investigate fiscal misconduct.
VALUES
In carrying out our mission, we share certain beliefs and
values.
-
Our primary focus
is to provide excellent service to the University. Our
examinations will be performed in accordance with applicable
standards established by the
American Institute of Certified Public Accountants (AICPA)
and the
Institute
of Internal Auditors (IIA).
-
We are committed to
the highest degree of fairness, integrity and ethical conduct
in the performance of our mission.
-
We will adhere to
the Code of Ethics as established by the
Association of College and University Auditors (ACUA).
-
We will perform our
work in an atmosphere of respect, helpfulness, sharing,
patience, and openness.
-
We are committed to
maintaining and enhancing our professionalism through
continuing education and training.
-
Although we are a
part of the University we are committed to maintaining our
independence in defining the scope and objectives of our
examinations.
CONTACT INFORMATION:
2801 W. Bancroft
Rocket Hall
1869
Toledo, Ohio 43606
491-530-8718 - Voice
419-530-8711 - Fax
Email Us
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