1.05 / Internal Audit Charter
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.
The Kansas Board of Regents Internal Audit Function Policy specifies
that each state university shall have an internal audit function.
At Wichita State University, the internal audit function is led by
the Director of Internal Audit who reports directly to the University
President on all audit matters. The
Internal Audit Function Policy of the Board further specifies that
internal auditors shall:
- Have no restrictions placed
on the scope of their work.
- Have full and free access
to all records, properties and personnel relevant to an audit.
- Have no responsibilities
for the activities they audit.
- Report directly to the
Board Fiscal Affairs and Audit Committee any situations wherein the
auditor perceives a conflict of interest with or on the part of the
university chief executive officer’s involvement with the subject of
is the responsibility of Internal Audit to provide assurance
and consulting services
in a manner consistent with the International
for the Professional Practice of Internal Auditing and Code
of Ethics promulgated by the Institute of Internal Auditors.
Internal Audit will assist the university in maintaining effective
controls by evaluating their effectiveness and efficiency and by promoting
continuous improvement. Areas of
audit emphasis include:
- Achievement of the
university’s strategic objectives.
- Reliability and integrity
of financial and operational information.
- Effectiveness and
efficiency of operations and programs.
- Safeguarding of assets.
- Compliance with laws,
regulations, policies, procedures and contracts.
November 1, 2007
June 1, 2010