UNCW Internal Audit Charter

Reviewed and approved: April 9, 2012

Effective: April 25, 2008

Supersedes: October 25, 1991

Mission and Scope of Work

The mission of the Office of Internal Audit is to provide independent, objective assurance and consulting services designed to add value and improve the university’s operations.Internal Audit 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 scope of the Office of Internal Audit’s work is to determine whether the university’s network of risk management, control, and governance processes, as designed by management, is adequate and functioning in a manner to ensure:

Opportunities for improving management control, the university’s image, and overall effectiveness and efficiency may be identified during audits.These, and any other relevant matters, may be communicated to the appropriate level of management.

Accountability

The Director of Internal Audit, in the discharge of his/her duties, shall be accountable to the Board of Trustees through the Audit Committee and the Chancellor or the Chancellor’s designee to:

Independence

The internal audit activity should be free from interference in determining the scope of internal auditing, performing work, and communicating results.To provide for the independence of the Office of Internal Audit, its personnel report to the Director of Internal Audit, who reports administratively to the Chancellor or the Chancellor’s designee and functionally to the Audit Committee.The Director shall have full and independent access to the Chancellor and the Audit Committee.

Responsibility

The Director and staff of the Office of Internal Audit have responsibility to:

Authority

The Director and staff of the Office of Internal Audit are authorized to:

The Director and staff of the Office of Internal Audit are not authorized to:

Standard of Audit Practice

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


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