Internal Audit

Assurance bubble

What is Internal Audit?

The Office of Internal Audit exists to ensure the university is fulfilling its vision and mission in an effective and efficient manner. We do this by providing the University with independent and objective reviews of operations and activities.

What are some typical services our office provides?

  • Consult with management and provide methodologies, facilitation, focus, knowledge, technology, best practices, and independence that help solve problems.
  • Verify the existence of university assets and ensure proper safeguards for their protection.
  • Evaluate the reliability and integrity of data produced by information systems.
  • Assess the extent of compliance of each area with applicable laws, regulations, accreditation standards, policies, and procedures.
  • Evaluate the adequacy of the internal control structure within a department or unit.
  • Investigate concerns relating to fraud, embezzlement, and theft.

What is reviewed and why?

Internal Audit develops an annual audit plan (work plan) to identify the engagement projects to be conducted during the upcoming fiscal year. Throughout the year the audit plan may be amended to include requested reviews, special projects, or changes in priority.

Some of the things we consider when developing our audit plan include:

  • To what extent is the process or area required to comply with state or federal regulations?
  • Is this area subject to a great deal of public scrutiny?
  • Has recent organizational change occurred?
  • What is the volume of activity?
  • How reliant is the area on technology?
  • When was the last time Internal Audit reviewed it?
  • Have concerns about conduct resulted in a requested review?
  • Does management have concerns that they'd like us to look into? Concerns can be about the internal structure, regulations, complexity of operations, or any prior audit findings

The annual audit plan is reviewed and approved by the Audit Committee of the UNCW Board of Trustees and the Chancellor.

If I call you with a question, are you going to audit me?

Typically, no. One service we provide is help answering questions when you aren't sure the responsible office or would like assistance interpreting external policies or regulations. If we can't answer the question for you, we'll help you find the right person to ask.

How long do I need to hold on to a document?

Check out the following link for details on how long each type of document should be retained:

http://archives.ncdcr.gov/For-Government/Retention-Schedules