Internal Audit

Mission

Internal Audit will provide comprehensive audit coverage of all divisions within the College, and assist administrators in ensuring proper control over College assets.

 

Objectives

  1. Provide independent, objective assurance and consulting services designed to add value and improve operations.
  2. Assist the College in accomplishing it's objectives with systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

Activities to Achieve Goals and Objectives

  1. Provide assurance services by examining evidence for the purpose of providing an independent assessment on governance, risk management, and control processes for the College.  Examples may include financial, performance, compliance, system security, and due diligence engagements.
  2. Perform fraud investigations and policy violations at the request of senior management.
  3. Provide consulting services by performing advisory and related client service activities that are intended to add value and improve the College’s governance, risk management, and control processes without the internal auditor assuming management responsibility.  Examples include counsel, advice, and facilitative training.

Performance Measurements for Goals and Objectives

  1. Satisfaction Target Percentage Rates:  95%% of audit engagements has an overall assessment rating of excellent or outstanding.
  2. Acceptance Target Percentage Rate:  100% of recommendations are agreed with by audit clients.
  3. Effectiveness Target Percentage Rate:  90% of audit recommendations successfully implemented within 3 years of audit report date.
  4. Coverage Measurement:  Complete periodic institutional-wide risk assessments and at least 30% of audit projects determined through the risk assessment process.