The University of Arizona Internal Audit department was started in May of 1995.
Internal Auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. Internal Auditing reviews the reliability and integrity of information, compliance with policies and regulations, the safeguarding of assets, the economical and efficient use of resources and established operational goals and objectives. The following five concepts guide our practice.
Be independent, honest, and promote integrity
Assess what can go wrong and the impact
Think big picture
See if there's a better way
Consider regulations and policies
Internal Audit consults with management, the University community and various constituents to help the University achieve its goals. We work independently to ensure compliance with policies, rules and regulations, and state and federal requirements. We proactively focus our efforts on the risks and exposures having the greatest potential or actual impact to the University and remain flexible with both our resources and approach in order to react appropriately to rapidly changing conditions. The flow diagram below reflects notable aspects of the internal audit cycle.
Internal Audit staff are trained professionals with business degrees in accounting or related fields. We participate in a variety of continuing education programs directed toward current issues in higher education and Internal Auditing. Our goal is to provide you with skilled professional support that will enable you to more effectively fulfill the mission of your department.
- Analyze risk across the University
- Prioritize audit projects for the year
- What has changed since the audit?
- If there were issues, were they addressed?
- Meet with key individuals, learn, and ask questions
- Analyze data and confirm information
- Share our results
- What was good? What can be improved?
Types of Audits Performed
Assess accounting and reporting of financial transactions, including commitments, authorizations, and receipt and disbursement of funds.
Review operating information, processes, and practices. Assess operations relative to University goals and policies.
Determine the degree of adherence to laws, policies and procedures.
Ensure compliance and implementation of prior audit recommendations.
Review reports of possible waste, fraud or abuse.