Internal Auditing Charter

Mission

The mission of the University of North Florida’s (UNF) Office of Internal Auditing (OIA) is to provide an independent, objective assurance and consulting activity designed to assist the University of North Florida in accomplishing its objectives by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, internal control, and governance processes.

Scope

The scope of the work performed is designed to determine whether the university’s risk management, internal controls, and governance processes, as designed and represented by management, are adequate and functioning in a manner to ensure:

  • Risks are appropriately identified and managed;
  • Interaction with the various governance groups occur as needed;
  • Significant financial, managerial, and operating information is accurate, reliable, and timely;
  • Employees comply with policies, standards, procedures, and applicable laws and regulations;
  • Resources are acquired economically, used efficiently, and adequately protected;
  • Quality and continuous improvement are fostered in the university’s control process; and
  • Legislative or regulatory issues are recognized and addressed appropriately.

Responsibility

The Office of Internal Auditing is established within the university to provide a central point for the coordination of and responsibility for activities that promote accountability, integrity, and efficiency. The Office of Internal Auditing is accountable to the Audit Committee and university management:

  • Develop a flexible annual audit plan using an appropriate risk-based methodology, including any risks or control concerns identified by management;
  • Submit the aforementioned plan to the Finance and Audit Committee for review and approval;
  • Implement the annual audit plan, as approved, including, and as appropriate, any special tasks or projects requested by management and the Finance and Audit Committee;
  • Provide direction for, supervise, conduct, and coordinate audits, investigations, and management advisory services;
  • Coordinate with and/or provide oversight of other control and monitoring functions (i.e. risk management, compliance, security, ethics, external audit, etc);
  • Keep the board informed of
    • fraud, abuses, and internal control deficiencies relating to programs and operations administered or financed by the university
    • recommended corrective actions
    • progress made in implementing management’s corrective action plans;
  • Provide information periodically on the status and results of the annual audit plan and the sufficiency of department resources;
  • Keep the Finance & Audit Committee informed of emerging trends and successful practices in internal auditing;
  • Submit final audit reports, reviews and investigative reports to the Board of Trustees, the Chief Financial Officer, and the President;
  • Prepare and submit an annual report summarizing the audits, management advisory services, and investigations conducted by the office during the fiscal year;
  • Maintain a professional audit staff with sufficient knowledge, skills, experience, and professional certifications to meet the requirements of this charter; and
  • Establish a quality assurance program by which the director of audit assures the operation of internal auditing activities.

Authority

The Office of Internal Auditing is authorized to allocate resources, set frequencies, select subjects, determine scopes of work, and apply the techniques required to accomplish audit objectives. In order to accomplish its objectives, the Office of Internal Auditing has unrestricted access to all functions, records, property, and personnel, and is permitted to obtain the necessary assistance of personnel in units of the university where they perform audits, as well as other specialized services from within or outside the university. The Office of Internal Auditing has full and free access to the Audit Committee and Board of Trustees.

The Office of Internal Auditing is not authorized to perform any operational duties for the university or its affiliates or initiate or approve accounting transactions external to the Office of Internal Auditing. Additionally, the Office of Internal Auditing is not authorized to direct the activities of any university employee not employed by the Office of Internal Auditing, except to the extent such employees have been appropriately assigned to auditing teams or to otherwise assist the internal auditors. 

Independence & Objectivity 

The Office of Internal Auditing must be independent, and internal auditors must be objective in performing their work. The director of audit is appointed by the President in consultation with the Finance and Audit Committee (FAC), reports to and is under the general supervision of the President and the FAC. The Office of Internal Auditing reports administratively to the university President. Internal auditors must exhibit the highest level of professional objectivity in gathering, evaluating, and communicating information about the activity or process being examined and shall have an impartial, unbiased attitude and avoid conflicts of interest. 

Standards of Audit Practice

The Office of Internal Auditing will meet or exceed the International Standards for the Professional Practice of Internal Auditing and the Code of Ethics of The Institute of Internal Auditors.

Approved by the Board of Trustees on September 2, 2010.