Charter and Mission Statement

The mission of the Internal Audit Office is to provide independent, objective assurance and advisory services designed to add value and assist all levels of administration in achieving University objectives by striving to provide a positive impact on the efficiency and effectiveness of the operations. The Internal Audit Office helps the University accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

Code of Ethics

Internal Audit staff are responsible for conducting themselves so that their good faith and integrity should not be open to question. The profession of auditing is founded on the trust placed in its objective assurance about risk management, control, and governance. The Internal Audit Office staff has adopted the Code of Ethics issued by the Institute of Internal Auditors. Staff shall realize that individual judgment is required in the application of these standards.

Institute of Internal Auditors' Code of Ethics
(adopted by the Internal Audit Office)

Principles

Internal auditors are expected to apply and uphold the following principles:

Integrity

The integrity of internal auditors establishes trust and thus provides the basis for reliance on their judgment.

Objectivity

Internal auditors exhibit the highest level of professional objectivity in gathering, evaluating, and communicating information about the activity or process being examined. Internal auditors make a balanced assessment of all the relevant circumstances and are not unduly influenced by their own interests or by others in forming judgments.

Confidentiality

Internal auditors respect the value and ownership of information they receive and do not disclose information without appropriate authority unless there is a legal or professional obligation to do so.

Competency

Internal auditors apply the knowledge, skills, and experience needed in the performance of internal auditing services.

Rules of Conduct

1. Integrity

Internal auditors:

1.1. Shall perform their work with honesty, diligence, and responsibility.

1.2. Shall observe the law and make disclosures expected by the law
and the profession.

1.3. Shall not knowingly be a party to any illegal activity, or engage in
acts that are discreditable to the profession of internal auditing or to
the organization.

1.4. Shall respect and contribute to the legitimate and ethical objectives
of the organization.

2. Objectivity

Internal auditors:

2.1. Shall not participate in any activity or relationship that may impair or
be presumed to impair their unbiased assessment. This participation
includes those activities or relationships that may be in conflict with
the interests of the organization.

2.2 Shall not accept anything that may impair or be presumed to impair
their professional judgment.

2.3 Shall disclose all material facts known to them that, if not disclosed,
may distort the reporting of activities under review.

3. Confidentiality

Internal auditors:

3.1 Shall be prudent in the use and protection of information acquired in
the course of their duties.

3.2 Shall not use information for any personal gain or in any manner that
would be contrary to the law or detrimental to the legitimate and
ethical objectives of the organization.

4. Competency

Internal auditors:

4.1. Shall engage only in those services for which they have the
necessary knowledge, skills, and experience.

4.2 Shall perform internal auditing services in accordance with the
Standards for the Professional Practice of Internal Auditing.

4.3 Shall continually improve their proficiency and the effectiveness and
quality of their services.

Independence

In accordance with the Bylaws of the Trustees, the Treasurer of the Corporation maintains the Internal Audit Office independently of any other office of the Corporation or of the University. The Director of Audits (Director) submits to the Board annually a written report on the work of the Internal Audit Office for the preceding calendar year.

Authority

The Internal Audit Office has the authority to audit all parts of the University and is granted full and complete access to any records (in any form), physical properties, and personnel relevant to a review. In performing their work, the Director and other internal auditors have neither direct authority over, nor responsibility for, any of the activities reviewed.