Internal audits are carried out in line with the Institute of Internal Auditors’ International Standard for the Professional Practice of Internal Auditing (IIA). Other auditing standards may be used if they are judged acceptable for the sorts of audits being performed.
- Audits and assurance services for operational, financial, compliance, and information technology -Internal auditing provides assurance services by objectively assessing information, facts, or data to produce an independent view or conclusion. The scope and nature of assurance services may include reviewing and evaluating for operational efficiencies and effectiveness; financial and operational system reliability; the adequacy and clarity of policies and procedures; compliance with university policy and state and federal law; asset safeguarding; achievement of objectives and goals; or other agreed-upon procedures.
- Consultancy Services– Other service activities include counsel, guidance, facilitation, process design, and limited training. Consulting services are advisory. The goal of consulting services is to bring value to the development or change of processes, procedures, and controls in order to reduce risk and achieve goals. Management agrees on the type and scope of certain consultancy services. In order to retain sufficient objectivity and independence, Internal Audit will not assume management’s tasks.
- Special Investigations -Investigations look into charges of fraudulent business practices and/or misbehavior regarding financial or operational problems to see whether they are true and to prevent such incidents in the future.
- Follow-up Engagements -Following audits and investigations, follow-up engagements assess the plans and activities made to remedy previously identified issues.
- External Audit Coordination – These services guarantee that external auditors or regulators have access to the University’s employees and resources while conducting audits. Coordination through a central office also ensures that internal and external efforts are not duplicated and that Internal Auditing is kept aware of any concerns that arise. Any office that gets an external audit notice should contact the Director of Internal Auditing.
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