Internal audit will assist Northern Michigan University’s Board of Trustees, the president and supporting administration by providing value-added auditing services using an independent risk-based approach. Emphasis will be placed on accountability, compliance and efficiency.
The department shall have full, free and unrestricted access to all appropriate university records, property and personnel, to the extent which that access supports the mission and documented audit plan.
ObjectivesThe internal audit department shall:
- Determine the efficiency and effectiveness of Northern Michigan University’s internal control structures
- Review the reliability and integrity of financial and operating information
- Review the controls established to ensure compliance with policies, regulations, procedures and laws
- Review the means of safeguarding the assets of the university
- Conduct investigative audits in situations where allegations of fraud, abuse or conflict of interest arise
- Provide departments and administration with technical assistance in the development of campus-wide procedures for business related activities to ensure that adequate consideration is given to internal controls and accountability
- Participate in the design of major information systems
- Provide advisory and training services for as required or requested to ensure fiscal and administrative integrity of the university