Internal audit
Helping NAU accomplish its mission, vision and strategic objectives
About us
The purpose of Northern Arizona University Internal Audit is to strengthen NAU’s ability to create, protect, and sustain value by providing the Arizona Board of Regents (board) and NAU management with independent, risk-based, and objective assurance, advice, insight, and foresight. Internal Audit’s work helps NAU accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of business, risk management, control, and governance processes.
Internal audit charter Accordion Closed
The internal audit charter, which is approved by the NAU Internal Audit Review Board and the Audit and Risk Management Committee of the Arizona Board of Regents, outlines Internal Audit’s purpose, authority, and responsibilities, consistent with the mission of Internal Audit and the mandatory guidance established by the Institute of Internal Auditors.
Internal audit plan Accordion Closed
Internal Audit planning includes both a strategic plan focused on Internal Audit vision, mission, values, objectives and metrics, and a periodic audit plan focused on the specific audit projects to be completed for each planned period, currently aligned to the NAU fiscal year.
Internal Audit’s strategic plan sets forth the Internal Audit vision of being a solutions-driven, resource-smart partner supporting the optimization of governance, risk, and control processes as key components of NAU’s success. It also formalizes NAU’s motto: “We’re Just Trying to Make Things Better!”
The internal audit periodic plan outlines the audits to be performed each fiscal year and is approved by the Audit and Risk Management Committee of the Arizona Board of Regents. The plan is aligned to NAU’s Enterprise Risk Management program and includes, as well as input from ABOR and NAU management. See the current audit plan.
Audit process
The audit process involves the client from start to finish, to ensure communication and transparency as the audit evolves. Each step of the audit process is important to validating the propriety of existing process and relate process controls as well as identifying enhancements or improvements where applicable. Learn more about the audit process, including what you can expect, why you are being audited, and what type of audits our office performs below.
What to expect Accordion Closed
While the objectives of each audit will vary, Internal Audit follow a consistent audit approach designed to establish a well-defined project scope that is understood and supported by the client in order to promote communication, maintain independence and objectivity, and avoid confusion. Most audits follow these steps.
Why are we being audited? Accordion Closed
As part of developing the annual audit plan, potential audits are identified as a result of board policy, requests for audit work, requirements of the University, a defined audit universe, and the results of NAU’s Enterprise Risk Management assessments. Internal Audit identifies potential audits based on this information and works with the NAU Internal Audit Review Board to determine audits and other projects to be included in each audit plan. See how risk is assessed at NAU.
Types of audits Accordion Closed
Internal Audit work generally fits into seven categories which focus on the nature of related risk and controls, identified or alleged improprieties, follow-up on improvement opportunities identified in formal audits, and other work. Learn about the various types of audits or projects Internal Audit completes.