Charter

Purpose

The Kansas State University Internal Audit Department provides consulting, independent objective analysis and recommendations to assist University managers in effectively discharging their administrative responsibilities. The Department assesses the adequacy and effectiveness of internal controls with the goal of promoting effective controls at reasonable costs. The Internal Audit Department performs internal audits in accordance with their annual audit plan and conducts special audits or reviews at the request of University management or the Kansas Board of Regents.

Authority

The Internal Audit Department reports to the President through the Vice President for Administration and Finance. The Department has no direct responsibility for any day-to-day University activities or operations for the activities they audit. The Internal Audit Department is authorized to have full and free unrestricted access to all Kansas State University records, property and personnel relevant to an audit.  Their scope of work shall also include the review of university controlled affiliated corporations, including a review of the IRS form 990 for each such corporation, with a focus on potential conflict of interest and transactions between the university and university controlled affiliated corporations.  The Internal Audit Department shall report to the Board of Regents Audit Committee any situation wherein the internal auditor perceives a conflict of interest with or on the part of the President relative to any aspect of an audit.

Responsibilities

The Internal Audit Department will report annually to the Board of Regents Committee on Fiscal Affairs and Audit, summarizing the prior year's activities and audit plans for the coming year.  Any completed internal audit reporting material financial weakness or fraud is to be submitted to the Board President and Chief Executive Officer who shall be responsible for recommending to the Committee on Fiscal Affairs and Audit any specific audit findings that should be further reviewed by the Committee. 

The Internal Audit Department advises University management on the adequacy and effectiveness of internal controls. The Department is guided by the International Professional Practices Framework (IPPF) adopted by the Institute of Internal Auditors. Additional resources, tools and guidance include those obtained through the Association of College and University Auditors and the Committee of Sponsored Organizations.  The major principles considered by the Internal Audit Department as it develops audit guidelines and conducts audits include the following:

  • Assess the soundness, adequacy and application of accounting, financial, and other operating controls;
  • Determine adherence to University plans, policies, and procedures;
  • Assess compliance with applicable laws, regulations and generally-accepted accounting principles;
  • Ascertain whether program results are consistent with established objectives;
  • Ascertain the adequacy of controls for safeguarding University assets from losses of all kinds; and
  • Assist in the improvement of University operations by making appropriate constructive suggestions and recommendations.