Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve the university’s operations. It helps the university accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.
The purpose of the Department of Audit Services is to provide the Board of Regents and the President an independent appraisal of the adequacy and the effectiveness of the University's system of internal administrative and accounting controls and the quality of performance when compared with established standards. The primary objective is to assist the Board of Regents, the President and University management in the effective discharge of their responsibilities.
The Department of Audit Services is an integral part of Stephen F. Austin State University and functions within established policies. The Chief Audit Executive is appointed by the Board of Regents in accordance with the Board of Regents Rules and Regulations. The Chief Audit Executive reports functionally to the Board of Regents and administratively to the President.
The Department of Audit Services will have unrestricted access to all University activities; records, both manual and electronic; property; and personnel relevant to any area being reviewed. Members of the Audit Services' staff will handle all documents and other information acquired in the course of their duties prudently.
The Department will operate within the guidelines of the Texas Internal Auditing Act (Article 6252 – 5d., V.A.C.S.), the Institute of Internal Auditors Professional Practices Framework which includes the Definition of Internal Auditing, the Code of Ethics, and the International Standards for the Professional Practice of Internal Auditing as mandatory guidance. In addition, where applicable the Department will follow Generally Accepted Government Auditing Standards.
Principles and Independence
The Department of Audit Services will uphold the principles of integrity, objectivity, confidentiality, and competency. Employees will be independent of the activities or operations they review and free of all operational and management responsibilities that will impair the auditor’s ability to review independently all aspects of the university’s operations.
The Department of Audit Services will fulfill its responsibility to the Board of Regents and the President by:
Annually the Chief Audit Executive will submit information on the annual audit plan, work schedule, and staffing plan to the President for his review and to the Board of Regents for their approval. Quarterly the Chief Audit Executive will provide activity reports to the President and the Board of Regents detailing progress against the annual audit plan, audit accomplishments, and highlights of any significant audit findings and recommendations. The Chief Audit Executive will submit reports as required to the State Auditor’s Office, Governor’s Office, Legislative Budget Board and Sunset Advisory Commission.
The scope of audit activities will include all controls, reports and operations of the University. The Department of Audit Services will examine and evaluate: