Charter

Statement of Purpose

The Internal Audit Department has been established to provide independent appraisals on behalf of the management of Qatar University necessary to measure and evaluate the effectiveness of internal controls and compliance with all applicable laws, regulations, agreements and internal procedures. The Internal Audit Department would assist management in the effective discharge of their responsibilities by providing them with analyses, appraisals, recommendations, counsel and information concerning the activities and functions that they review. Internal Audit will also consultatively partner with process/functional managers to streamline/enhance business systems and processes.

Independence

To ensure the department’s independence, as well as, assure adequate audit coverage and consideration of audit recommendations, the Director of Internal Audit reports to the President of Qatar University.

Authority

Internal auditing is not limited to matters of an accounting or financial nature because the objectives of any planned review and/or requested appraisal will be varied. Consequently, the Internal Audit Department staff has full and complete access to any and all records (manual or automated), physical property and personnel of the University that they deem pertinent in completing an audit. The staff will maintain sensitive information as strictly confidential.

Responsibility

The Internal Audit Department has no direct responsibility for the operations and activities that they review. Also, while the Department will take an active role in the formulation of policy and procedures or the development of new systems and processes, it will be in an advisory capacity, with final decision and implementation being the responsibility of the appropriate manager or project sponsor.

Internal auditing at the University will be conducted by the staff of the Internal Audit Department based upon an annual plan approved by the President. In the development of the annual plan and in the conduct of the related audits, the staff of Internal Audit will:

Perform a risk assessment to ascertain how potential negative events might impact the achievement of departmental/University objectives.
Appraise the adequacy and soundness of internal controls and operating procedures. Review controls for cost effectiveness and relevance to the current operating environment.
Determine compliance with applicable regulatory or contractual requirements.
Assess the reliability of management information utilized in the decision making process.
Evaluate the effectiveness of existing policies and procedures and/or assist in the formulation thereof, when necessary.
Determine whether allocated funds are used efficiently and for the purposes for which they were allocated.
Assure that University assets are properly recorded and adequately safeguarded against loss.
Perform liaison function with government and external auditors effectively.
Identify opportunities for cost savings and recommend improvements.

This charter is approved by the Audit and Compliance Committee of the Board of Regents.