Internal Audit Function
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. (From the Institute of Internal Auditors website).
The mission of the Internal Audit Department is to provide independent and objective reviews of Utah State Board of Education (the Board) programs, activities, and functions including:
- To verify the accuracy and reliability of the Utah State Office of Education (USOE) or the Board records;
- To assess compliance with management policies, plans, procedures, and regulations;
- To assess compliance with applicable laws, rules, and regulations;
- To evaluate the efficient and effective use and protection of Board, state, or federal resources;
- To verify the appropriate protection of USOE assets;
- To review and evaluate internal controls over USOE accounting systems, administrative systems, electronic data processing systems, and all other major systems necessary to ensure the fiscal and administrative accountability of the USOE.
The Internal Audit department works with the State Superintendent of Public Instruction, the Audit Committee, and the Utah State Board of Education to promote excellence and success.
- Develop and maintain a risk assessment audit framework which assures audit efficiency and effectiveness;
- Develop an annual audit plan;
- Perform scheduled audits and reviews;
- Respond to and investigate issues reported through the hotline;
- Report audit results to the State Superintendent of Public Instruction, the Audit Committee, the Board, and other necessary parties;
- Perform follow-up reviews of audit recommendations.
- Assess and appraise the soundness, adequacy, and application of accounting, financial, and other operating controls, and promoting effective controls at a reasonable cost;
- Provide advice, guidance, and ascertain control and compliance aspects of policies, processes, and procedures;
- Determine compliance with Board policies and procedures, state and federal laws, and government regulations;
- Determine the effectiveness and efficiency of organizations in accomplishing their mission and identify operational opportunities for cost savings and investigate concerns relating to fraudulent activities;
- Perform annual audits and provide audit assistance to external auditors;
- Perform special projects as requested by the Audit Committee or Board, and other reviews as time and personnel allow.
The Internal Audit department will conduct audits or reviews as recommended by the Audit Committee, and as directed by the Board, including economy and efficiency audits, program audits, and financial-related audits of any program, function, local education agency, or division under the Board’s supervision.
The Internal Audit department reports initially to the State Superintendent of Public Instruction. Following the Superintendent’s response, Internal Audit reports to the Audit Committee and ultimately the Utah State Board of Education. This reporting structure allows the Internal Audit department to remain independent and objective in assessing internal controls, evaluating risk assessments, and performing audits. The Internal Audit department reports all items of significance to the Superintendent and the Audit Committee.