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Expectation From Internal Auditing

Analysis of Operation Assessing Internal Controls Assessment of Risk

Recommending improvement of CorporateGovernance Evaluating Emerging Technologies Detecting & Deterring Frauds

Analyzing the effectiveness of policies &procedures Identifying opportunities to save

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WHAT AUDIT REVEALS?

Opportunity?

Threat?

Hazard?

Uncertainty?

Upside?

Downside?

Some of the above?

All of the above?

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Internal Audit - Responsibility and Authority

The internal audit function is mandated by TexasGovernment Code (Texas Internal Auditing Act of1993).

Internal Audit is a system function responsible for UNTDenton, UNT Health Science Center, and UNT Dallas.

Internal Audit reports directly to the UNT System Board

of Regents.

Regent Rule 04.501 is the Charter for InternalAuditing at UNT.

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Internal Audit - Scope of Services

Review the reliability and integrity of financial and operating information and themeans used to identify, measure, classify, and report such information.

Evaluate compliance with policies, plans, procedures, laws, and regulations.

Study processes being used to assure the most efficient and effective use of allUniversity resources.

Evaluate the means used to safeguard assets and, when appropriate, verify thephysical location of assets.

Review operations or programs to ascertain whether results are consistent withestablished objectives and goals, and whether the operations or programs are beingcarried out as planned.

Support and assist with investigations of employee dishonesty and theft when

requested.

Provide customized training to UNT operating units on accountability,internal control, and fraud awareness.

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Which area might be selected for review?

Part of the annual risk-based project plan.

Investigation requests.

Random selection based on various inputs.

Special requests from administration,

external regulatory bodies, or other

authorities.

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Why an audit is requested?

An audit can provide benefits to you as an administrator

If you have recently assumed new or additionalsupervisory responsibilities.

If operations have been significantly modified, InternalAudit can review procedures to assess whether internalcontrols are adequate.

A periodic checkup to review your unit's activities canhelp ensure that your procedures continue to comply with

University policy.

An audit really is an opportunity to receive anindependent assessment of the effectiveness andefficiency of your unit's activities.

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When to contact Internal Audit Team?

If you identify loss or theft of state funds you

must report it to the University Police and

Internal Audit immediately. UNT Policy 2.1.3

If you believe a suspected activity may involve

fraud or dishonest activity, you should contact

Internal Audit Team