University Audit and Consulting Services conducts objective appraisal activities established within Wright State University to measure and evaluate the effectiveness of internal controls and the efficiency of operations. The mission of internal auditing is directly related to the University's commitment to continuous quality improvement. The objective is to assist management in the effective discharge of their responsibilities by providing them with analyses, appraisals and recommendations concerning the activities reviewed and by promoting effective control at reasonable cost.
Our University Role
University Audit and Consulting Services was established by the Board of Trustees, and its responsibilities are defined by the Finance and Audit Committee of the Board. The Chief Auditor of University Audit and Consulting Services (Chief Auditor) will report administratively to the Provost and has unrestricted access to the President of the University. The Chief Auditor shall also meet privately with the Finance and Audit Committee (Committee) of the Board of Trustees at least twice a year. In addition, the Chief Auditor may meet with the Committee on other occasions, as deemed necessary, to fulfill the Office's responsibilities to the University.
The Chief Auditor is authorized to direct comprehensive internal auditing within Wright State University. Authorization is granted for complete access to all files and related information, either manual or electronic, personnel relevant to a review, and physical access to areas of operations (except as may be restricted by law). Documents and information given to the Internal Auditors during a specific review will be handled in a confidential manner.
University Audit and Consulting Services has no authority or direct responsibility over the activities they review or audit. Those activities remain the responsibility of management.
Internal Audit Scope
The scope of internal audit includes the examination and analysis of the adequacy and effectiveness of the University's system of internal control. It is designed to provide reasonable (not absolute) assurance regarding achievement of objectives in the following areas:
- The reliability and integrity of financial information and the means used to identify, measure, classify, and report such information.
- Compliance with applicable policies, procedures, laws and regulations.
- The adequate safeguarding of assets.
- Effectiveness and efficiency of operations.
A written report will be prepared and issued by the Chief Auditor of University Audit and Consulting Services following the conclusion of each audit. Distribution of that report will be limited as appropriate.
Executive summaries of audit reports will be forwarded semi-annually to members of the Finance and Audit Committee of the Board of Trustees. At the discretion of the Chief Auditor, complete audit reports may be forwarded to the Finance and Audit Committee.