It appears that your browser does not support JavaScript. We use JavaScript on our website to display some information. Please use a browser that supports JavaScript.

Authority & Oversight

AUTHORITY

The purpose, authority, and responsibility of the internal audit activity is formally defined in the Office of Internal Audits Charter. The Charter establishes the internal audit activity’s positon within an organization; authorizes access to records, personnel, and physical properties relevant to the performance of engagements; and defines the scope of internal audit activities.

The Office of Internal Audits (OIA) functions in accordance with the Charter and the policies established by the University’s Board of Regents. The Director of Internal Audits is appointed by the Board of Regents and reports functionally (directly) to them and reports administratively to the President. Policy 2.11 - Organizational Chart

The Director of Internal Audits must have a high degree of independence and not be assigned duties or engage in any activities that the OIA would normally be expected to review or appraise. To accomplish these activities the Director of Internal Audits is authorized to have full, free, and unrestricted access to all functions, activities, property, information systems, personnel, and records.

 

OVERSIGHT

The Texas Internal Auditing Act establishes guidelines for internal auditing programs at institutions of higher education and state agencies. The Act requires the OIA to follow the International Standards for the Professional Practice of Internal Auditing, the Code of Ethics contained within the International Professional Practices Framework of the Institute of Internal Auditors and generally accepted governmental auditing standards of the Government Accountability Office.

The International Standards for the Professional Practice of Internal Auditing (Standards) promulgated by The Institute of Internal Auditors (IIA), are principle-focused and provide a framework for performing and promoting internal auditing. They are mandatory requirements, consist of Attribute, Performance, and Implementation Standards, and Interpretations.

The purpose of the Standards is to:

  1. Delineate basic principles that represent the practice of internal auditing.
  2. Provide a framework for performing and promoting a broad range of value-added internal auditing.
  3. Establish the basis for the evaluation of internal audit performance.
  4. Foster improved organizational processes and operations.

The Code of Ethics is a statement of the principles and expectations governing the behavior of individuals in the profession and practice of internal auditing and provides the minimum requirements for conduct. The purpose of the IIA’s Code of Ethics is to promote an ethical culture in the profession of internal auditing.

The International Professional Practices Framework (IPPF) is a conceptual framework that organizes the authoritative guidance promulgated by the IIA.

The guidance is organized into two categories;

  1. Mandatory guidance is required and essential for the professional practice of internal auditing. The mandatory elements are the Core Principles for the Professional Practice of Internal Auditing, the Definition of Internal Auditing, the Code of Ethics and the International Standards for the Professional Practice of Internal Auditing (Standards).
  2. Recommended guidance is endorsed by IIA and describes practices for effective implementation of the mandatory guidance elements. The recommended elements are Implementation Guidance and Supplemental Guidance.

Copyright © by The Institute of Internal Auditors, Inc. All rights reserved.

The Generally Accepted Government Auditing Standards (GAGAS) are produced by the Government Accountability Office (GAO) and provide a framework for conducting high quality audits with competence, integrity, objectivity, and independence. These standards, also known as the Yellow Book, are used by auditors of government entities and entities that receive government awards. They provide the foundation for government auditors to lead by example in the areas of independence, transparency, accountability and quality through the audit process.

 

PROFESSIONAL CERTIFICATIONS

Additional guidelines and standards may apply when individuals acquire professional certifications. The most commonly held certifications for individuals in the profession and practice of internal auditing are:

  • Certified Public Accountant (CPA)
  • Certified Internal Auditor (CIA)
  • Certified Fraud Examiner (CFE)
  • Certified Government Audit Professional (CGAP)
  • Certified Information Systems Auditor (CISA)
  • Certified Information systems Security Professional (CISSP)