Internal Audit Charter


Purpose and Mission

The purpose of Central Washington University’s internal audit department is to provide independent, objective assurance and consulting services designed to add value and improve Central Washington University’s operations. The mission of internal audit is to enhance and protect organizational value by providing risk-based and objective assurance, advice, and insight. The internal audit department helps Central Washington University accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of governance, risk management, and control processes.

Authority

The Internal Audit Manager report functionally to the Board of Trustees Audit Committee and administratively (i.e., day-to-day operations) to the Vice President of Business and Financial Affairs.

The Board of Trustees Audit Committee authorizes the internal audit department to:

  • Have full, free, and unrestricted access to all functions, records, property, and personnel pertinent to carrying out any engagement, subject to accountability for confidentiality and safeguarding of records and information.
  • Allocate resources, set frequencies, select subjects, determine scopes of work, apply techniques required to accomplish audit objectives, and issue reports.
  • Obtain assistance from the necessary personnel of Central Washington University, as well as other specialized services from within or outside Central Washington University, in order to complete the engagement.

Independence and Objectivity

The Internal Audit Manager ensure that the internal audit department remains free from all conditions that threaten the ability of internal auditors to carry out their responsibilities in an unbiased manner, including matters of audit selection, scope, procedures, frequency, timing, and report content. If the Internal Audit Manager determines that independence or objectivity may be impaired in fact or appearance, the details of impairment will be disclosed to appropriate parties.

Internal auditors maintain unbiased mental attitude that allows them to perform engagements objectively and in such a manner that they believe in their work product, that no quality compromises are made, and that they do not subordinate their judgment on audit matters to others.

Scope of Internal Audit Activities

The scope of internal audit activities encompasses, but is not limited to, objective examinations of evidence for the purpose of providing independent assessments to the Board of Trustees Audit Committee, management, and outside parties on the adequacy and effectiveness of governance, risk management, and control processes for Central Washington University. Internal audit assessments include evaluating whether:

  • Risks relating to the achievement of Central Washington University’s strategic objectives are appropriately identified andmanaged.
  • The actions of Central Washington University’s officers, directors, employees, and contractors are in compliance with Central Washington University’s policies, procedures, and applicable laws, regulations, and governancestandards.
  • The results of operations or programs are consistent with established goals and objectives.
  • Operations or programs are being carried out effectively andefficiently.
  • Established processes and systems enable compliance with the policies, procedures, laws, and regulations that could significantly impact Central Washington University.
  • Information and the means used to identify, measure, analyze, classify, and report such information are reliable and have integrity.
  • Resources and assets are acquired economically, used efficiently, and protected adequately.

 

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Internal Audit

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