Internal Audit
Mission and Objectives"[...] internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. [...]" (Source: Institute of Internal Auditors) Internal Audit helps the University accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. Scope of workThe audit assignments are defined in the periodic audit plan which is approved by the Board of Governors. All subjects relevant to decision making for the Board of Governors may be audited. The Internal Audit's wide range of assurance services includes the following:
Ad hoc activities may be conducted depending on the availabilities of the resources:
Organisation and IndependenceTo maintain the independence of the internal auditing activity, Internal Audit reports to the Board of Governors. All internal audit activities shall remain free of influence by anyone from the University of Luxembourg in order to maintain an independent and objective state of mind. This includes matters of audit selection, scope, procedures, frequency, timing or report content. |
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