Internal audit is an independent, objective assurance and consulting activity designed to add value and improve the University's operations. It 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. Operations of the Audit Assurance function are governed by ECU's Risk and Assurance Charter.
The Audit Functional Plan (AFP) is a risk–based program of internal audit work for the coming five years that is linked to the University’s strategic risks. Each year the AFP is reviewed and updated by the Chief Risk and Assurance Officer and the Audit and Assurance Manager to make sure it remains an effective tool to appraise the effectiveness of risk management, control and operational governance. The AFP reflects the entire audit universe to ensure complete audit coverage of all key processes and functions within the University, including full coverage of the risk treatments in the Strategic Risk Register.
The Audit Assurance Operational Plan (AOP) is a program of internal audit work to be conducted over the coming year. This is based on the first year of the AFP. The AOP is developed in consultation with the Senior Leadership Team and the Office of the Auditor General. It is endorsed by the Quality, Audit and Risk Committee (QARC) and is approved by University Council at the start of every year.
The Audit Operational Plan is updated during the year to include any emerging risks and recommendations made by the Senior Leadership Team and by QARC. The revised Plan is subject to the same quality check as the original and has to be endorsed by QARC and approved by Council in the third quarter.
Audit Assurance produce an audit report at the conclusion of an audit project. The purpose of the report is to provide management with the auditor’s assessment of the control environment and detailed findings and recommendations for improvements to the system of controls.
Requests for a copy of a listed audit report can be directed to the Audit and Assurance Manager.
ECURTS is the system that ECU uses to track the progress on the implementation by Schools and Centres of recommendations arising from the University's review mechanisms. It is designed to provide evidence of conformance and improvement in line with the Quality at ECU framework.
As part of the Audit function, recommendations for action arising from Audit Reports are followed up on a quarterly basis via ECURTS and reported to QARC, University Executive and Council.
For more information on ECURTS please contact the Chief Risk and Assurance Officer.
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