The Internal Auditing Division is an independent appraisal function established within the University to examine and evaluate its activities as a service to the organization. The objective of internal auditing is to assist members of the University in the effective discharge of their responsibilities. To this end, Internal Auditing furnishes them with analyses, appraisals, recommendations, counsel, and information concerning the activities reviewed. The audit objective includes promoting effective control at reasonable cost.

Attainment of this overall objective involves activities relating to:

• Reliability and Integrity of Information–reviewing the reliability and integrity of financial and operating information and the means used to identify, measure, classify, and report such information.


• Compliance with Policies, Plans, Procedures, Laws, and Regulations–reviewing the systems established to ensure compliance with those policies, plans procedures, laws, and regulations which could have a significant impact on operations and reports and determining whether the organization is in compliance.


• Safeguarding of Assets–reviewing the means of safeguarding assets and, as appropriate, verifying the existence of such assets.


• Economical and Efficient Use of Resources–appraising the economy and efficiency with which resources are employed.


• Accomplishment of Established Objectives and Goals for Operations or Programs–reviewing operations or programs to ascertain whether results are consistent with established objectives and goals and whether the operations or programs are being carried out as planned.

The University of Georgia's Internal Auditing Division reports to the Office of the President. Regents Policy provides, "All Directors of Internal Audit at institutions having an Internal Auditor or Internal Audit Department shall have a direct reporting relationship to the President of that institution and the Vice Chancellor of Fiscal Affairs and Treasurer of the Board."

In performing its function, the Internal Auditing Division has no direct responsibility or authority over any of the activities which it reviews. Therefore, the internal audit review and appraisal does not relieve other persons in the University of the responsibilities assigned to them.

When making an audit the Internal Auditing Division has access to all of the University's records, properties, and personnel relevant to the subject in review. The Division has the authority to review and appraise policies, plans, procedures and records. The Division has the authority to require a written response to any findings and recommendations contained in its audits.

The Internal Auditing Division operates in accordance with the Standards for the Professional Practice of Internal Auditing of The Institute of Internal Auditors, and subscribes to the Code of Ethics of the Institute.

Approved:

Michael F. Adams, President
7/15/98