Approved: February 3, 2010
Nomenclature changes: February 26, 2024
Monitor: President
The University supports an Office of Internal Auditing
which provides an independent, objective assurance and consulting activity
designed to add value and improve the University’s operations. This function
shall be the responsibility of the Director of Internal Auditing who reports directly
to the President and has direct communications with the President and the Board
of Trustees in the exercise of internal audit activities.
The Office of Internal Auditing shall operate in conformance with the Office of Internal Auditing Charter enacted by the University.
Audit coverage shall be
university-wide and no function, activity, or unit of the University is exempt
from audit and review. In carrying out their duties and responsibilities,
internal auditors shall have full, free and unrestricted access to all
University activities, records, property, and personnel. University
administrators are responsible for making sure that prompt, pertinent, and
comprehensive responses are made to internal audit communications.
In situations involving
financial malfeasance in the President’s Office, the Director of Internal
Auditing shall have the authority to meet with the Finance/Audit Committee of
the Board of Trustees as provided in the Fiscal
Control and Internal Auditing Act enacted by the State of Illinois.