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.
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2007 Recognition for a successful External Quality Assessment
QUALITY
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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