The Internal Audit Department is available to provide a variety of services to the University community. Listed below are some of the services we provide:
Compliance audits are performed to determine the degree to which your department adheres to laws, regulations, policies, and procedures of the University, the Commonwealth of Virginia, the Federal government, and other regulatory agencies. Contractual agreements into which the department has entered also may be subject to review.
Financial audits address issues of accounting and reporting of financial transactions. The purpose of this type of audit is to verify that the financial activity of your unit is accurately reflected in various financial reports.
Information Technology Audits
Information Technology audits evaluate the systems that are in place to guard an organization's information. Specifically, information technology audits are used to evaluate the organization's ability to protect its information assets and to properly distribute information to authorized parties. The IT audit aims to evaluate the following:
- Availability- The organization's computer systems are available for the business when required.
- Confidentiality- Information in the systems is disclosed only to authorized users.
- Integrity- The information provided by the system is accurate, reliable, and timely.
Investigative and Fraud Audits
The University’s Fraud Policy 1001 governs our services for fraud reported internally. Other investigative audits are initiated as a result of calls made to the Commonwealth Fraud, Waste and Abuse Hotline. Should you suspect fraud, waste or abuse in your department, you may contact the Commonwealth Employee Fraud, Waste and Abuse Hotline at 1-800-723-1615. All calls may be made anonymously and are not traceable.
The purpose of operational audits is to review the use of resources available to determine if management's objectives and goals are being met in the most effective and efficient manner.
Consulting and Advisory Services
Advisory services address specific management concerns and issues. Advisory services may also entail offering best practices for operational efficiencies or awareness of new compliance requirements.
Education and Training
The Internal Audit Department will offer educational and training opportunities to support the University community. Staff members will be available upon request to conduct presentations and training on internal control and fraud awareness.
updated: January 2014