»The Mission of Internal Audit

The Department of Internal Audit’s function is to provide the University with an independent and objective process for monitoring and evaluating the reliability and integrity of financial and operating information as well as the means used to identify, measure, classify, and report such information

+-Authority

The Department of Internal Audit reports to the Audit Committee of the Board of Trustees.  This reporting relationship ensures independence and assurance that both a broad range of audit coverage and effective action on the audit issues and recommendations will be accomplished.

The Department of Internal Audit’s authority is granted full, free, and unrestricted access to any and all Chapman University records, physical properties, electronic media, and employees.  The Department of Internal Audit has no direct responsibility or authority over any of the operations or activities that are reviewed

+-Objectives

In fulfilling its mission, the Department’s objectives include the following:

  • Appraising the effectiveness and application of administrative and financial controls and reliability of data.
  • Evaluating compliance with the University’s policies and procedures and pertinent laws and regulations.
  • Ascertaining the adequacy of controls for safeguarding the University’s assets, and when appropriate, verifying the existence of such assets.
  • Assisting member of the University community by furnishing them with analyses, recommendations, training, and information concerning the activities reviewed and by promoting effective control at a reasonable cost.
  • Investigating fiscal improprieties.

Audit activities are conducted in compliance with the International Standards for the Professional Practice of Internal Auditing promulgated by the Institute of Internal Auditors.  The audit standards provide a framework for performing our work and also establish a basis for evaluation of the work.

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