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Internal Auditing & Management Consulting Overview

Internal Auditing & Management Consulting Overview. BOT On-Campus Orientation. Reporting Authority. President. UWF Board of Trustees Finance, Administration and Audit Committee. Associate Vice President. Internal Auditor III. Student Employee. Internal Auditor.

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Internal Auditing & Management Consulting Overview

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  1. Internal Auditing & Management Consulting Overview BOT On-Campus Orientation Presentation to UWF BOT

  2. Reporting Authority • President • UWF Board of Trustees Finance, Administration and Audit Committee • Associate Vice President • InternalAuditorIII • Student • Employee • InternalAuditor Note: One position (.75 FTE auditor) was lost in 2011/12 for budget cuts Presentation to UWF BOT

  3. Presentation to UWF BOT

  4. Standards • Institute of Internal Auditors InternationalStandards for Professional Practice of Internal Auditing • Institute of Internal Auditors Code of Ethics • Government Auditing Standards (Yellow Book) • Generally Accepted Accounting Principles (GAAP) Presentation to UWF BOT

  5. Internal Auditors vs. External Auditors Presentation to UWF BOT

  6. External Audits Performed • Auditor General • Financial Statement • Federal Funds • Bright Futures • SACS Special Purpose Financial Statement (every 10 years) • Federal • Florida Small Business Network • CPA firms • WUWF-FM • Intercollegiate Athletics Financial Statement • Direct Support Organizations/Affiliated Organizations • UWF Foundation • West Florida Historic Preservation, Inc. • Florida Institute for Human & Machine Cognition Presentation to UWF BOT

  7. RISK • RISK FACTORS • Executive Management Interest • Internal Controls System • Fraud Likelihood and Impact • Changes in Personnel/Procedures • Prior Audit Findings • Time Since Last Audit • Dollar Volume Exposure • Interdependence • Public Disclosure Implications • External Audit Coverage • TYPES OF RISK • Strategic • Financial • Operational • Compliance • Reputational Presentationto UWF BOT

  8. Example of Internal Audit Areas (Work Plan 2011/12) • Audits • Aquatic Center • Construction • Educational Research Center for Child Development (ERCCD) • Institutes and Centers (in process) • PCard Audits (department level) • Recreation • Revenue Generating Contracts (in process) • Telecommunications • Testing Center • Voyager Student Center • Management Advisory Services • Evaluation of Policies, Rules, Procedures and changes • Risk & Compliance Council • Banner Student Implementation –team members • Facilitator for Workgroups and Departments Presentation to UWF BOT

  9. Questions & Comments? Presentation to UWF BOT

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