Charter
INTRODUCTION
The Office
of Audit and Advisory Services has prepared this Charter
to serve as a guide in the performance of its duties.
The Charter does not include, nor is it intended
to include, all of the Department's duties and responsibilities
as may exist from time to time. This Charter defines
the purpose, responsibilities, authority, and scope of work
of the Office of Audit and Advisory Services.
PURPOSE
The overall
mission of the Office of Audit and Advisory Services is
to assist Georgia Southern University's management
by providing an independent evaluation of the soundness,
adequacy, and application of accounting, financial and other
operating controls necessary to accomplish the University's
objectives. Further, it makes recommendations to improve
systems, processes, and internal controls designed to safeguard
University resources, promote its mission toward academic
excellence, and ensure compliance with state and federal
regulations, established policies, procedure, and sound
business practices.
RESPONSIBILITIES
The Director
is responsible for informing the President of unusual transactions
or other matters of significance. The responsibilities
of the Office of Audit and Advisory Services include:
-
developing and maintaining a comprehensive audit program
for the internal controls necessary to ensure compliance
with accounting standards, policies, and procedures to
safeguard University funds and programs;
-
conducting financial, operational, and compliance audits
of departments, schools, divisions, programs, and activities;
-
coordinating external audits with independent auditors and
overseeing the preparation of responses to their audits;
-
conducting operational reviews on the efficiency of programs
upon request from the President or other members of the
University's management;
-
preparing reports on the results of audits, including recommendations
for modification of management practices, fiscal policies,
and accounting procedures as justified by audit findings;
-
inspecting items in books of original entry to determine
if accepted accounting procedures were followed in recording
transactions;
-
ensuring that audits are performed with due professional
care;
-
communicating the results of audit reviews, both written
and orally, in a timely manner.
The above is intended to describe the general content
of and requirements for the Office of Audit and Advisory
Services. It is not to be construed as a complete
list of duties, responsibilities, or requirements.
Any University administrator, vice president, manager,
or other interested party may request a special audit
or examination of any portion of the University's activities.
Decisions to perform special audits rest with the Director
upon consultation with the President or as directed by
the Senior Vice Chancellor for Capital Resources.
AUTHORITY
The Office
of Audit and Advisory Services is an independent appraisal
function reporting directly to the Office of the President.
It provides management with information that may assist
in the operations for which it is responsible. The
Office is also subject to the provisions of the University
System of Georgia Board of Regents Policy Section 710.02.
As such, "the Senior Vice Chancellor for Capital Resources
and Treasurer shall have the authority to direct the Internal
auditors to audit specific functions at their institutions."
The Director and the staff of the Office of Audit and Advisory
Services are authorized to:
-
have unrestricted access to all functions, records, property,
and personnel relevant to the area under
review to the extent permitted by law.
No legitimate source of information is to
be closed to the auditor;
- allocate
resources, set frequencies, select subjects, determine scopes
of work, and apply techniques required to accomplish audit
objectives;
- obtain
the necessary assistance of personnel in units of the organization
where audits are performed, as well as other specialized services
from within or outside the organization.
It is understood
that certain items are confidential in nature and special
arrangements will be made by the Office of Audit and Advisory
Services when examining and reporting upon such items.
Documents and other materials furnished to the Office will
be handled in the same prudent manner as provided by the employees
to whom they are normally entrusted.
Independence is essential to the effectiveness of the Office
of Audit and Advisory Services. The Director and the
staff of the Office should not engage in activities that could
be construed to compromise their independence. Such
activities could include initiating or approving accounting
transactions, developing or installing policies, procedures
or controls, preparing records, performing operational duties,
or engaging in activities that its personnel would normally
review and appraise. However, the Office of Audit and
Advisory Services may be consulted when new systems are designed
or old systems are redesigned to ensure that the system adequately
addresses internal controls.
The scope of the internal audit should encompass the examination
and evaluation of the adequacy and effectiveness of the organization's
system of internal controls and the quality of performance
in carrying out assigned responsibilities. As such,
the scope of audit work shall be designed to ensure the:
STANDARDS OF AUDIT PRACTICE
The Office
of Audit and Advisory Services’ activities will be
conducted in compliance with Georgia Southern University's
objectives and policies as well as the Standards for
the Professional Practice of Internal Auditing
and the Code of Ethics promulgated by the Institute
of Internal Auditors, Inc.
Approved by President Bruce F. Grube, September 13, 1999.
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