The purpose of the Internal Audit function is to provide independent, objective assurance and consulting services that add value and improve the operations of Northern Arizona University. Internal Audit reviews help NAU accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
Internal Audit evaluates risk exposures relating to NAU’s governance, operations, and information systems for:
• Effectiveness and efficiency of operations;
• Reliability and integrity of financial and operational information;
• Safeguarding of assets; and
• Compliance with laws, regulations, and contracts.
Internal Audit staff has unrestricted access to all NAU departments, records, reports, activities, property, and personnel that they consider necessary to discharge their audit activities. Internal Audit staff will exercise discretion in the review of records to assure the necessary confidentiality of matters that come to their attention.
The responsibility of the internal audit function is to serve Northern Arizona University in a manner that is consistent with the Institute of Internal Auditors’ International Standards for the Professional Practice of Internal Auditing and Code of Ethics.
Internal audit responsibilities include, but are not limited to:
• Developing and implementing a risk-based annual audit plan that recognizes the scope of work performed by ABOR and external auditors;
• Examining and evaluating the adequacy and effectiveness of the systems of internal controls, including information systems security and control;
• Identifying opportunities for reducing costs, improving processes, and enhancing the University’s reputation;
• Appropriately documenting the results of all audit work performed;
• Performing advising and consulting services, as requested, to assist management in meeting its objectives;
• Responding to requests and special audit projects requested by the Arizona
• Board of Regents Audit Committee;
• Promptly and properly reporting any internal control weaknesses, concerns, and opportunities for improvement to NAU management;
• Distributing audit reports to management and the Arizona Board of Regents Audit Committee; and
• Following up on previously completed audits to ensure management is implementing actions to satisfactorily implement reported audit recommendations.
The internal audit staff reports functionally to the Arizona Board of Regents Audit Committee and administratively to the Vice President for Finance and Administration. The Chief Audit Executive confers with the Audit Committee of the Board of Regents at least annually, outside the presence of University officials, on any subject related to Internal Audit's area of responsibility. The Chief Audit Executive may communicate directly to the Chair of the Audit Committee.
P.O. Box 4115
Flagstaff, AZ 86011
523 S Knoles Dr
© 2007 Arizona Board of Regents, Northern Arizona University
South San Francisco Street, Flagstaff, Arizona 86011