About the Internal Audit Department

Internal Audit Charter and Mission

Dixie State College’s Internal Audit function is an independent appraisal activity within the College for the review of operations as a service to management. It is a managerial control, which functions by measuring and evaluating the effectiveness and efficiency of controls and operations.

The overall mission of the Internal Audit Department is to assist College management , the Dixie State College Board of Trustees and its Audit Committee in the effective discharge of their responsibilities and in identifying, avoiding and, where necessary, mitigating risks.

Professional Beliefs and Values

In carrying out our mission, we share certain beliefs and values. We are committed to:

• Maintaining our independence and objectivity
• Dedicated to providing high quality auditing and management consulting services
• Conducting ourselves with the highest degree of fairness and integrity, and complying with the Code of Ethics established by the IIA and adopted by the Association of College and University Auditors.
• Highly value our the importance of our relationships with others and strive for relationships that are trusting
• Maintaining relationships with the University community characterized by respect, helpfulness, sharing, patience, and openness
• Achieving continuous professional improvement through the pursuit of professional certifications and of educational goals in the profession

Internal Audit Department

Internal Audit is a department within the College that is developed to provide the following services to the College community:

• Financial, operational and compliance audits
• Special reviews and investigations
• Advice on specific control issues as requested
• Internal Control Training
• Management Consultant Services

The Internal Audit department is an integral part of the managerial process, providing impartial evaluations of campus activities in order to assist the College Community in obtaining its goals and reports directly to the President and the Board of Trustees to ensure maximum independence of our function.

Goals and Objectives

• Assist the College in obtaining its goals in an efficient and effective manner by recommending procedures to improve controls and operational efficiencies.
• Provide assurance to the College that necessary financial and management controls are present to safeguard loss or misuse of funds.
• Recommend controls for the prevention and detection of fraud and misappropriation.
• Ascertain compliance within established government laws, regulations and College policy and procedures.
• Render advice and recommendations for improving efficiency and effectiveness of operations.
• Focus on the future by improving processes.
• Offer consulting services concerning issues related to internal controls, special investigations, and other areas of concern.

Authority

The Internal Audit Department has full, free, and unrestricted access to all College information, documents, records, and personnel in conjunction with audit activities. Information obtained during the course of audit activities will be held with appropriate confidentiality.

Utah State Law 93-61-201 and Utah State Board of Regents Policy R567:1-5 provides the authority for the establishment, responsibilities and authority of the Internal Audit Department.

No officer, administrator, or staff member may interfere with or prohibit internal auditors from examining any College or related organization’s record or interviewing any employee or student that the auditors believe is necessary to carry out their duties.

Responsibility

The Internal Audit Department is responsible for conducting internal audits and evaluations of the College’s system of internal controls within the policies established by the State Board of Regents and the College administration. The audits will include assessments of the reliability of departmental financial information, compliance with College policies and procedures, compliance with laws and regulations, safeguarding of assets and the effectiveness and efficiency of operations.

The Internal Audit Department has the responsibility to develop a flexible annual audit plan using an appropriate risk-based methodology, including any risks or control concerns identified by management, and implement the plan as approved by the Board of Trustee’s Audit Committee.

Additionally, the Internal Audit Department has responsibility to maintain a professional audit staff with sufficient knowledge, skills, and experience to meet the requirements of this Charter; issue periodic reports summarizing results of audit activities; assist College management by conducting special reviews and investigations; and to assist the external auditors and regulators, as appropriate.

Reporting Relationships

The Internal Audit Department reports to the President and is a regular participant in Audit Committee meetings and has direct access to committee members and all Officers on the Board of Trustees when circumstances warrant such communication.

Independence

Internal auditing is an independent appraisal function established within an organization to examine and evaluate its activities as a service to the organization.

In order for the desired results to be realized, auditors must perform their work fully and objectively, that is, be independent of the activities they audit. They must have no authority over or responsibility for the activities they audit.

In order to maintain independence and objectivity, an auditor will not be assigned audits involving the following instances:

1. Any situation in which a conflict of interest or bias is present.
2. Any situation that involves a member of the auditor’s immediate family.

Professional Standards

Standards for the performance of the audit function are developed from the following:

• The Standards for the Professional Practice of Internal Auditing (Institute of Internal Auditors).
• The Statement of Responsibilities and Code of Ethics defined by the Association of College and University Auditors(ACUA).

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