Internal Audit Department Orientation - PowerPoint PPT Presentation

Loading...

PPT – Internal Audit Department Orientation PowerPoint presentation | free to download - id: 7b0af9-ZTBjM



Loading


The Adobe Flash plugin is needed to view this content

Get the plugin now

View by Category
About This Presentation
Title:

Internal Audit Department Orientation

Description:

Internal Audit Department Orientation Manu Patel, Internal Audit Director Purvi Mody, Executive Director, Compliance and Internal Audit, Health System – PowerPoint PPT presentation

Number of Views:111
Avg rating:3.0/5.0
Slides: 20
Provided by: dyo56
Learn more at: http://hsc.unm.edu
Category:

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: Internal Audit Department Orientation


1
Internal Audit DepartmentOrientation
  • Manu Patel, Internal Audit Director
  • Purvi Mody, Executive Director, Compliance and
    Internal Audit, Health System
  • June 5, 2015

2
Audit and Compliance Committee(RPM 1.2, 7.3)
  • A standing committee of the Board of Regents
  • One member should be financial expert
  • Meets four or more times a year
  • Follows Open Meetings Act

3
Audit and Compliance Committee(RPM 7.3)
  • Oversight Responsibilities for Universitys
  • Financial reporting
  • Internal controls
  • Risk management
  • Performance of external financial and internal
    auditors
  • Compliance with laws and regulations
  • Compliance program
  • Federal, state agencies audits and compliance
    reviews

4
Authority of Internal Audit Dept. (IA) (RPM 7.2)
  • Was established to perform a comprehensive
    internal audit function
  • Has unrestricted access to all functions,
    records, property, and personnel
  • Obtains the necessary assistance of personnel
  • Communicates with personnel of internal,
    external, law enforcement agencies, etc.

5
Independence
  • IA reports functionally to the Audit and
    Compliance Committee
  • Free from interference in determining the scope
    of internal auditing
  • Empowered to obtain the information needed
  • IA reports administratively to the University
    President

6
Independence (cont.)
  • Health System Internal Audit reports
    administratively to the Chief Executive Officer
    and Administrator of Hospital Operations

7
UNM Internal Audit Reporting Lines
8
  • Internal Audit

UNM Board of Regents
Audit Committee of Each Entity and COO of the
Health System (Steve McKernan)
HS Internal Audit (Purvi Mody)
UNM Internal Audit (Manu Patel)
UNM Main Campus
Health Sciences Center
Health System
School of Medicine, College of Nursing and
Pharmacy
Research (Cancer Center and HSC)
Branch Campuses, Affiliated entities
(Foundation and Lobo Development, etc)
UNM Hospitals and 57 Clinics
UNM Cancer Center Clinics
UNM Medical Group and 7 clinics
UNM SRMC
  • UNM Internal Audit
  • Health System Internal Audit

9
Report Functionally to the Committee
  • The Committee reviews and approves UNM
    Internal Audits
  • Risk based internal audit plan
  • Budget and resource plan
  • Work product audit, consulting reports, etc.
  • Follow up report on managements responses to
    audit recommendations
  • Health System IA reports functionally to Board of
    Trustees Audit and Compliance Committee

10
Purpose and Scope of Work
  • Improve the University's operations
  • Determine whether the University's systems of
    controls, risk management, and governance, are
    adequate, and functioning properly to ensure
  • Risks are identified and managed
  • Employees' actions are compliant with policies
    etc.
  • Resources are acquired economically, used
    efficiently, and adequately protected, etc.

11
Investigation of Fraudulent Activity
  • University policy requires Internal Audit to
    conduct investigations of fraud and employee
    misconduct if financial
  • Will coordinate investigations of suspected
    fraudulent activities within the University

12
Relevant UNM Policies
  • Policy 2200 Whistleblower Protection and
    Reporting Suspected Misconduct and Retaliation
  • Policy 7205 Dishonest or Fraudulent Activities

13
Definition of Internal Auditing
  • 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.
  • The Institute of Internal Auditors

14
Assurance Services
  • We provide an independent assessment on
    governance, risk management, and control
    processes
  • Examples of assurance engagements
  • management and performance
  • compliance
  • information technology
  • special requests
  • fraud

15
Types of Assurance Engagements
  • Special Request from senior management or the
    Board of Regents
  • may result from concerns about a program,
    function or account
  • Fraud examination
  • initiated from irregularities identified during
    routine audit work, management who find fraud in
    their organizations, and complaints from various
    sources including the Hotline

16
Risk Based Auditing
  • Focus on
  • risk of occurrences that could prevent the
    University from achieving its goals
  • areas with high risk where controls are not in
    place or are weak
  • Risk based audit plan
  • developed with input from across the University
  • based on available man hours
  • A university-wide 5-year plan is revisited
    annually

17
IA Process of Audit Report
  • Management responds to the report with 3 required
    elements within 10 days
  • Management obtains its EVPs approval
  • President approves managements responses
  • Committee reviews and approves
  • Report is made public except exempted information

18
Standards and Ethics
  • Adhere strictly to the Code of Ethics as
    established by the Institute of Internal Auditors
    (IIA)
  • Abide by applicable standards made by IIA and the
    American Institute of Certified Public
    Accountants (AICPA)

19
Quality
  • IA must have a peer review at least once every
    five years
  • Last quality assessment was approved in March
    2013
About PowerShow.com