Frequently Asked Questions

• Provide management with important and useful information
• Determine presence and functioning of  internal controls in operating environment
• Suggest ways to improve the efficiency and effectiveness processes
• Assess compliance with policies, procedures, laws, and regulations.
• Promote effective internal control at reasonable cost.
• Verify existence and safeguarding of assets
• Conduct examinations and reviews as requested by management.

• Administrative, academic, or auxiliary departments.
• Information technology systems.
• Grants, contracts, and externally funded programs.
• Organizational units such as divisions, sub-divisions, or regional campuses.
• Payroll, purchasing, construction, marketing, accounting, and human resources functions
• Laws and regulations.
• Policies, procedures, and practices.

Internal controls are activities grouped in a system designed to provide reasonable assurance about the achievement of the following objectives:

• The reliability and integrity of information.
• Compliance with policies, plans, procedures, laws, and regulations.
• The safeguarding of assets.
• The economical and efficient use of resources.

• Management is responsible for ensuring that internal controls are established and functioning.
• Management must create additional controls or altering existing controls as operating environments change.

• When duties are properly segregated the potential for loss or inappropriate use of university assets is minimized. 
• Supervisory review of work does not replace the need for segregation of duties. 
• Proper segregation of duties in an operating environment can provide a level of assurance for proper use and safeguarded of assets.

• An audit is very beneficial to assess operations within any area of the university.
• Review of department's administrative activity can help ensure that your procedures continue to comply with University policies. 
• Beneficial to assess system controls and procedures when new IT systems are planned for implementation.
• All requests will be evaluated to determine whether an investigation or review is warranted.

Please refer to the university's record retention schedule for details.