It is the policy of the West Virginia University Board of Governors (BOG) and West Virginia University (WVU) to maintain the WVU Internal Audit Office to provide independent, objective assurance and consulting services designed to add value and improve the organization’s operations. The WVU Internal Audit Office mandate is to assist the BOG and University management in effectively discharging its responsibilities, including the stewardship of funds entrusted to it, maintaining a commitment to high ethical standards, and establishing an internal control structure to help ensure the
safeguarding of University assets;
integrity and reliability of management information systems;
compliance with University, State and Federal regulations;
economical and efficient use of University resources;
effective and efficient management of operations; and
accomplishment of University goals.
Authority and Responsibility
WVU has authorized the Director of WVU Internal Audit to establish, maintain, and manage a comprehensive auditing program. This program includes financial, management, compliance, information systems, and investigative audits. In addition, WVU Internal Audit serves the University by coordinating external audit activities on all University campuses. The WVU Internal Audit Office provides the BOG and University officials with analyses, appraisals, recommendations, and guidance concerning the activities reviewed. These reports and recommendations are advisory in nature. The University administration continues to be responsible for establishing and maintaining an adequate internal control structure. In order to obtain accurate information, perform thorough evaluations, and prepare meaningful reports, WVU Internal Audit has complete access to University and WVU Research Corporation records, property, computer systems, and personnel on a need-to-know basis. WVU Internal Audit exercises due professional care in the performance of field work, the preparation of audit reports, and in any activity where WVU Internal Audit represents the University.
The WVU Internal Audit Office reports functionally to the Audit Committee and the BOG and administratively to the WVU President’s Office. The Director of WVU Internal Audit has direct communications with the BOG Audit Committee and WVU President’s Office, and routinely presents the results of completed audits to the committee and management.. This reporting relationship is essential to WVU Internal Audit because it provides independence from the departments and activities under review, demonstrates administrative support for the WVU Internal Audit Office function, and ensures adequate consideration of audit findings and recommendations.
WVU Internal Audit adheres to the Standards for the Professional Practice of Internal Auditing, issued by the Institute of Internal Auditors.
Approved by Audit Committee: April 3, 2008 meeting