The Director of Internal Audit creates an annual audit plan which is developed based on a risk assessment with input from the University’s management team and Board of Governors, and in response to audit requests. A risk assessment consists of an analysis of all University operating units and control functions to identify areas of potential high institutional risk. The plan is reviewed and approved by the Audit Committee of the Board of Governors.
In addition to planned audits, the Internal Auditing Department responds to reports of fraudulent activities, irregularities, or mishandling of University funds. Internal audit also responds to special requests by the Board of Governors, the University’s President and Senior Management.