Internal Audit Charter
The internal auditing function at Gordon State College is an independent, objective assurance and consulting activity designed to add value and improve the Institution’s operations. The Office of Internal Audits helps Gordon State College accomplish its objectives by bringing a systematic, disciplined approach to evaluate risk. Additionally, the Office of Internal Audits helps to improve the effectiveness of control and governance processes.
The overall mission of the Office of Internal Audits at Gordon State College is to support the Institution’s President and management in the effective discharge of their responsibilities. The Office of Internal Audits helps to evaluate risk, improve the effectiveness of control and governance processes. The Office of Internal Audits provides an independent appraisal of financial, operational, and control activities. The Office of Internal Audits reports on the adequacy of internal controls, the accuracy and propriety of transactions, the extent to which assets are accounted for and safeguarded, and compliance with institutional policies and governmental laws and regulations. In addition, the Office of Internal Audits provides analysis, recommendations, counsel, and information concerning the activities reviewed.
The Director of the Office of Internal Audits at Gordon State College is responsible for informing the President of unusual occurrences or other matters of significance. The responsibilities of the Office of Internal Audits include:
- Developing and maintaining a comprehensive audit program for the internal controls necessary to ensure compliance with accounting standards, policies, and procedures to safeguard Institutional funds and programs;
- Conducting financial, operational, and compliance audits of departments, schools, divisions, programs, and activities;
- Conducting operational reviews on the efficiency of programs upon request from the President or other members of the Institution's management;
- Preparing reports on the results of audits, including recommendations for modification of management practices, fiscal policies, and accounting procedures as justified by audit findings;
- Inspecting items in books of original entry to determine if accepted accounting procedures were followed in recording transactions;
- Ensuring that audits are performed with due professional care; Communicating the results of audit reviews, both written and orally, in a timely manner.
The above is intended to describe the general content of and requirements for the Office of Audit. It is not to be construed as a complete list of duties, responsibilities, or requirements. Any Institution administrator, vice president, manager, or other interested party may request a special audit or examination of any portion of the Institution's activities. Decisions to perform special audits rest with the Director upon consultation with the President or as directed by the Chief Audit Officer and Associate Vice Chancellor of the Board of Regents.
SCOPE OF WORK
The Office of Internal Audits assists the Institution with accomplishing its objectives by bringing a systematic, discipline approach to evaluate and improve the effectiveness of risk management, control, and governance processes. The scope will vary by engagement and may include:
- Evaluating the Institution’s risks to ensure they are appropriately identified and managed.
- Reviewing the effectiveness of governance processes such to include the promotion of ethical behavior and efficiency of organizational performance management and accountability.
- Consulting and educating on financial and operational processes, controls, related risks, and exposures.
- Providing guidance and advice on control and risk aspects of new policies, systems, processes, and procedures.
- Reviewing the reliability and integrity of financial and operating information and the means used to identify measure, classify, and report information.
- Determining whether the systems established ensure compliance with those policies, plans, procedures, laws, and regulations which could have a significant impact on operations and reports and whether the organization is in compliance.
- Reviewing the means of safeguarding assets and, as appropriate, verifying the existence of such assets.
- Reviewing operations or programs to ascertain whether results are consistent with established objectives and goals and whether the operations or programs are being carried out as planned.
- Reviewing specific operations at the request of the Institution President or Chief Audit Officer/Associate Vice Chancellor (CAO) from the Board of Regents, as appropriate.
- Reviewing the quality of performance of external auditors and the degree of coordination with the Internal Audit Department.
- Investigating fraud and other types of fiscal misconduct.
- Analyzing and reviewing public/private ventures undertaken by the Gordon State College cooperative organizations, as appropriate.
The Office of Internal Audits’ activities will be conducted in compliance with Gordon State College objectives and policies, as well as the Standards for the Professional Practice of Internal Auditing and the Code of Ethics promulgated by the Institute of Internal Auditors, Inc.
The Internal Auditor has a dual reporting role as stated in the USG BOR Policy 7.10.02. The Internal Audit Department reports to the Institution President and to the BOR Chief Audit Officer (CAO). The Audit Director has the responsibility to develop a rolling audit plan based on a documented risk assessment. The audit plan is approved in accordance with the USG Internal Audit Charter. The President may request audits or advisory services at his discretion. The requests are reviewed, prioritized, and completed based on available resources. The CAO has the authority to direct Internal Audit to audit specific areas at the Institution as needed to fulfill the system-wide audit plan. The dual reporting role provides assurances that both a broad range of audit coverage and adequate consideration to the effectiveness of governance, risks, and controls will be accomplished. The CAO will report all significant audit issues directly to the Chair of the Committee on Internal Audit, Risk, and Compliance and to the Chancellor.
Authority is granted for full, free, and unrestricted access to any and all Gordon State College records, physical properties, and personnel relevant to any function under review. All employees are directed to assist the Internal Audit Department in fulfilling its function. Documents and information given to an Internal Auditor during a review will be handled in the same prudent and confidential manner as by those employees normally accountable for them.
The Internal Audit Department will have no direct responsibility or authority for any of the activities or operations it reviews. The department will not develop and install procedures, prepare records, or engage in activities that would normally be reviewed by internal auditors. Furthermore, an internal audit does not in any way relieve other Institution personnel of their responsibilities.
Office of Internal Audits
419 College Drive
Barnesville, GA 30204
Phone (678) 359-5699
Approved by Dr. Max Burns, President for Gordon State College, and John M. Fuchko, III, Chief Audit Officer and Associate Vice Chancellor for the Board of Regents of the University System of Georgia on July 22, 2013.