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Internal Auditing & Management Consulting Overview

Board of Trustees Orientation August 22, 2012. Internal Auditing & Management Consulting Overview. Betsy Bowers. Associate Vice President. President. UWF Board of Trustees, Audit & Operations Committee. Reporting Authority. Associate Vice President. Internal Auditor III. Student

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Internal Auditing & Management Consulting Overview

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  1. Board of Trustees Orientation August 22, 2012 Internal Auditing & Management Consulting Overview Betsy Bowers Associate Vice President

  2. President • UWF Board of Trustees, • Audit & Operations Committee Reporting Authority • Associate Vice President • InternalAuditorIII • Student • Employee • Internal Auditor Note: One position (.75 FTE auditor) was lost in 2011/12 for budget cuts

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

  4. 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 • Business Enterprises, Inc. • UWF Foundation • West Florida Historic Preservation, Inc. • Florida Institute for Human & Machine Cognition

  5. Risk • TYPES OF RISK • Strategic • Financial • Operational • Compliance • Reputational • 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 Presentationto UWF BOT

  6. Example of Internal Audit Areas (Work Plan 2012/13) • Audits • Attractive Assets (<$5,000) • Differential Tuition • IT General Application Controls (Banner) • PCard Audits (department level) • Post Office • Reservations: Conferences & Camp Services • SEVIS (Student/Exchange Visitor Program) • Study Abroad Program Audits completed August2012 (last year items being finished) • Recreation & Sports Services • Health, Leisure & Sports Facility Operations • Aquatic Center Operations • Major Construction • Management Advisory Services • Evaluation of Policies, Rules, Procedures and changes • Risk & Compliance Council • Banner Student Implementation –team members • Facilitator for Workgroups and Departments Presentationto UWF BOT

  7. Questions & Comments? Presentation to UWF BOT

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