Internal Audit

Internal Audit

Head and key contact

Services

Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organisation’s operations. It helps an organisation accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.

At James Cook University, the independent Internal Audit function, within Legal and Assurance, forms part of the Chief of Staff portfolio and adds value to the University and its stakeholders by providing objective and relevant assurance and advisory services.

The Manager, Internal Audit is the University’s nominated officer as the “Head of Internal Audit” under Section 78, Queensland Financial Accountability Act 2009, and the “Chief Audit Executive” under the International Standards for the Professional Practice of Internal Auditing.

The Manager, Internal Audit reports functionally to the Vice Chancellor and the Audit Committee of the University Council and administratively to the University General Counsel. The Manager, Internal Audit has free and unrestricted access to the Chief of Staff, the Vice Chancellor and the Audit Committee.

Internal Audit currently operates under a co-sourced service delivery model. Under the co-sourced model,

Internal Audit activities are performed by a combination of in-house and contracted resources. The Manager, Internal Audit is responsible for the performance of the co-sourcing partners, in particular the quality of the work conducted by them.

  • The purpose, authority, and responsibility of the Internal Audit function are formally defined in the Internal Audit Charter.

  • The role of Internal Audit over the medium term, in the context of all the University’s assurance activities, is outlined in broad terms in the Internal Audit Strategic Plan.

  • In line with the University’s annual budgeting and planning cycle, the Internal Audit Annual Work Plan outlines the Internal Audit Activities, audit coverage prioritisation, annual work schedule, and the identified auditable areas to be covered within a three year cycle.

  • The Internal Audit Protocol outlines the respective roles and responsibilities of Internal Audit and Management in the course of common internal audit activities. It is intended to serve as a general reference for both Internal Audit and Management with a view to improving stakeholder communication and enhancing the efficiency and effectiveness of the internal audit processes.

  • Specific procedural information is available for the following routine internal audit activities:

Grant auditing

Audit recommendation follow up

  • Some frequently asked questions are answered within the Frequently Asked Questions.

  • Stakeholders are encouraged to direct any further queries or feedback regarding the Internal Audit function to the Manager, Internal Audit.

Key resources

  1. Internal Audit Charter

  2. Internal Audit Strategic Plan

  3. Internal Audit Annual Work Plan

  4. Internal Audit Protocol

  5. Grant Auditing – Procedures

  6. Grant Auditing – Checklist

  7. Audit Recommendation Follow up – Process Overview

  8. Audit Recommendation Follow up – TeamCentral User Guide

  9. Frequently Asked Questions