Scope of Audit Activities:

Risk Management, Internal Controls, Governance

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Risk Management

Internal Controls

Governance

Internal Audit assists the university by identifying and evaluating significant exposures to risk, assessing the effectiveness of the university's risk management system, and contributing to continuous improvement.

 

Particularly, evaluate risk exposures relating to the university's governance, operations, and information systems regarding the:

  • Reliability and integrity of financial and operational information
  • Effectiveness and efficiency of operations
  • Safeguarding of assets
  • Compliance with laws, regulations, and contracts

Internal Audit assesses and makes appropriate recommendations for improving the governance process in its accomplishment of the following objectives:

  • Promoting appropriate ethics and values within the university
  • Ensuring effective organizational performance management and accountability
  • Effectively communicating risk and control information
  • Effectively coordinating the activities of and communicating information among the board, external and internal auditors, and management

 

 

Assist the university in maintaining effective controls (encompassing governance, operations, and information systems) by evaluating their effectiveness and efficiency and by promoting continuous improvement.

 

Ascertain the extent to which operating and program goals and objectives have been established and conform to those of the university, results are consistent with established goals and objectives, and  management has established adequate criteria to determine whether objectives and goals have been accomplished.

 

 

 

University Internal Audit | Virginia Tech

audit@vt.edu  |  (540) 231-5883 |  North End Center, Suite 3200, Virginia Tech  | MC 0328 |  Blacksburg, Virginia