strategic plan

Establish a dynamic audit planning process.

Complete a University-wide risk assessment in order to develop a risk-based audit plan.
Maintain on-going communication with the President and executive management.
Consult with various institutional stakeholders and our external auditors.
Maintain an audit presence in every college and major administrative area annually.
Survey and conduct research aimed at delivering constructive and beneficial results.

Assess and mitigate financial, operating and business risks.

Perform audits of departmental and research activities and evaluate business systems and processes for adequacy.
Review and appraise the soundness of operating controls and promote effective internal controls at reasonable cost.
Determine compliance with applicable regulatory or contractual requirements.
Recommend operating improvements and assure that operations are in line with organizational goals.
Assess the reliability of management information utilized in decision-making processes.
Evaluate the effectiveness of existing policies or assist in the formulation of policies, when necessary.
Assure that University assets are properly recorded and adequately safeguarded against loss.
Identify opportunities for cost savings and make recommendations for improved cost efficiencies.

Increase appreciation for good and effective management practices. Also increase awareness of the Internal Audit function throughout the University.

Create an Internal Audit Department website that would inform and guide.
Use periodic broadcasts about internal controls in the form of an Internal Audit Alert flyer to raise the level of awareness of staff and faculty.
Inform staff and faculty about the consulting functions the department can perform.

Create an effective work environment in the Internal Audit Department and maintain a high level of competent staff.

Develop a procedures manual to guide internal audit staff in the completion of audit assignments.
Enhance the audit process by standardizing procedures as well as using automated tools such a
Audit Command Language (ACL) and the Association of College and University Auditors’ resource library (ACUA-L) to minimize labor-intensive aspects of the audit.
Provide relevant and timely training for staff and emphasize continuing education development to enhance professional and personal growth.
Mentor and coach staff in handling difficult situations.
Provide internship opportunities for Junior- and Senior-Class students at the University.
Maintain expectation for professional staff to acquire certifications such as the CIA, CPA, CISA, and CFE.
Maintain good communication through an open door policy and information sharing at routine staff meetings.

Establish performance expectations, and provide feedback and recognition based on annual objectives and strategies.

Set annual goals and strategies, including key performance indicators, training and development plans, milestones, actions and resource requirements.
Ensure progress reviews on a regular and timely basis identifying goals, effectiveness and areas for improvement.
Recognize and reward effective team and individual performance and results on a continuous basis.