Helping You Achieve Your Research Objectives

1. Helping You Achieve Your Research Objectives DIVISION OF AUDIT SERVICES

2. Presentation Objectives • Overview of the Division of Audit Services • Navigating the Administrative Highway • How Audit Services can help you achieve your research objectives • Recap and questions Navigating the Administrative Highway - September 2004

3. Overview of Audit Services Navigating the Administrative Highway - September 2004

4. Overview of Audit Services – con’t • Internal auditors ascribe to professional standards • Distinguish internal auditors from other employees • Bestows credibility to internal auditors Navigating the Administrative Highway - September 2004

5. Overview of Audit Services – con’t Resources: • Institute of Internal Auditors (IIA) • Association of College and University Auditors (ACUA) • Canadian Association of University Business Officers (CAUBO) • Our mandate is approved by the Board of Governors. • We are dedicated to assisting University Management in the effective discharge of their responsibilities. Navigating the Administrative Highway - September 2004

6. Question? By a show of hands, how many of you have had any dealings with an auditor? • Traditional view • Internal Audit model “a tiny cloud that can mushroom into a tempest that may rock the pillars of the organization” (CGA Canada) Navigating the Administrative Highway - September 2004

7. Navigating the Administrative Highway – Audit Services’ View Travelling the highway • To reach your research objectives • Using the infrastructure created Navigating the Administrative Highway - September 2004

8. The Infrastructure - Audit Services’ View • System of people • Computers • Data • Information systems • Policy, procedures, and guidelines The Goal To help you achieve your objective Navigating the Administrative Highway - September 2004

9. The journey to a successful research project • Risks involved in completing the journey • Some may be obvious while others are not • Analogy of a family vacation Navigating the Administrative Highway - September 2004

10. The Journey Objective To reach your destination safely, efficiently, timely, and within budget! • Identify “things” that may not allow us to get there • Defining risk and internal control. Navigating the Administrative Highway - September 2004

11. Defining risk and internal control • Risk: the potential of something occurring that will prevent us from achieving our objective. • Internal control: an action, process or item to mitigate that risk. Navigating the Administrative Highway - September 2004

12. Risk Aversion • Planning the trip • Maps • Money • Packing suitcases Navigating the Administrative Highway - September 2004

13. Risk Aversion • Car maintenance • Tune-up • Oil change • Check the tires • Buy gas Navigating the Administrative Highway - September 2004

14. Risk Aversion • Make accommodation reservations • Ensures your family will have someplace to sleep Navigating the Administrative Highway - September 2004

15. Risk aversion costs money! • All of the “internal controls” cost money. • What happens if you decide not to spend money on “controls”? • You may have car trouble • You may run out of gas • The journey may cost you more or you may not get to your destination! Navigating the Administrative Highway - September 2004

16. Relating the analogy to your research project • Risk is identified as the potential of something occurring that will prevent you from achieving your research objectives. Navigating the Administrative Highway - September 2004

17. Areas of Risk • Compliance with regulatory bodies • Use of University facilities and assets • Expenditures Navigating the Administrative Highway - September 2004

18. 1. Risks identified: Compliance • Freezing or closing of the grant account(s) • Of the individual researcher, or • Of all grant accounts at the Institution Navigating the Administrative Highway - September 2004

19. Compliance issues • Tri-Council • Funding received through parliamentary appropriations • Responsibility to Parliament and taxpayers • Audit Services role and responsibility Navigating the Administrative Highway - September 2004

20. 2. Risks identified: Using University facilities & assets • Misuse and abuse of University assets • Exposure to insurance and liability issues • Unfavourable public perception Navigating the Administrative Highway - September 2004

21. 3. Risks identified: expenditures • Financial loss to the University • Unauthorized or inappropriately authorized • Unsupported expenditures • Ineligible expenditures • Overspending • Expending additional resources • Integrity and reputation compromised • Individual and the University as a whole Navigating the Administrative Highway - September 2004

22. Bridging the gap • Lack of knowledge – increases the risk that research funds may be inappropriately spent • Audit Services –adds value Navigating the Administrative Highway - September 2004

23. Independent Eyes and Ears • Audit Services acts as management’s eyes and ears • Making sure that the University’s assets are protected • Making sure that the University is being a good steward of the funds that have been entrusted to the researcher and institution Navigating the Administrative Highway - September 2004

24. Independent eyes for a smooth ride • We are the independent eyes that make sure all the system checks and balances are in place. • This will help the researcher have a smooth ride down the Administrative Highway. Navigating the Administrative Highway - September 2004

25. Navigating the Administrative Highway - September 2004

26. Contact information Al Novakowski, Director Ph: 4915 email: al.novakowski@usask.ca Dale Holaday, Senior Internal Auditor Ph: 4916 email: dale.holaday@usask.ca Navigating the Administrative Highway - September 2004

27. http://www.usask.ca/audit/ Troy Harkot, Information Systems Auditor Ph: 4917 email: troy.harkot@usask.ca John Cornwell, Internal Auditor Ph: 1872 email: john.cornwell@usask.ca Office Fax: 1904 Navigating the Administrative Highway - September 2004