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MISSION AND SCOPE OF WORK

The University of Minnesota Office of Internal Audit has been recognized as an industry leader. The department received a "COMMITMENT TO QUALITY IMPROVEMENT AWARD" from the Institute of Internal Auditors. The department was one of 12 recipients worldwide that received this award for 2003. The award recognizes professional excellence, quality of service, and professional outreach and is based on a demonstration of knowledge

The mission of the Office of Internal Audit is to provide independent, objective assurance and advisory services designed to add value and improve the operations of the University of Minnesota. It helps the University accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. The scope of work of the Office of Internal Audit is to determine whether the University of Minnesota’s network of risk management, control, and governance processes, as designed and represented by management, is adequate and functioning in a manner to ensure:

  • Risks are appropriately identified and managed.
  • Interaction between governance groups occurs as needed.
  • Important financial, managerial, and operating information is accurate, reliable, and timely.
  • Employees’ actions are in compliance with policies, standards, procedures, and applicable laws and regulations.
  • Resources are acquired economically, used efficiently, and adequately protected.
  • Programs, plans, and objectives are achieved.
  • Quality and continuous improvement are fostered in the University’s control process.
  • Significant legislative or regulatory issues impacting the University are recognized and addressed appropriately.
The Office of Internal Audit considers risks broadly and includes within its scope all activity posing financial, operational, technological, regulatory or reputational risk to the University. Opportunities for improving management control, efficiency and the University’s image may be identified during audits. They will be communicated to the appropriate level of management.
 

2007 Recognition for a successful External Quality Assessment

Recognition

QUALITY AWARD

Award

The University of Minnesota Office of Internal Audit has been recognized as an industry leader. The department received a "COMMITMENT TO QUALITY IMPROVEMENT AWARD" from the Institute of Internal Auditors. The department was one of 12 recipients worldwide that received this award for 2003. The award recognizes professional excellence, quality of service, and professional outreach and is based on a demonstration of knowledge

 
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