• Section 1 - Purpose
• Section 2 - Glossary
• Section 3 - Charter
• Part A - Internal Audit at Charles Sturt University
• Part B - Internal Audit Scope, Accountability and Independence
• Part C - Authority of Internal Audit
• Part D - Applicable Auditing Standards
• Part E - Internal Audit Program
• Section 4 - Procedures
• Section 5 - Guidelines

Section 1 - Purpose

(1) This document sets out the role, function and authority of Charles Sturt University's Internal Audit Unit.

Scope

(2) This Charter applies to all areas of Charles Sturt University (the University) and its' controlled entities.

Section 2 - Glossary

(3) Nil.

Section 3 - Charter

Part A - Internal Audit at Charles Sturt University

(4) Internal Audit supports the governance and management of Charles Sturt University by providing independent advice to University Council and senior management on the extent to which the University achieves its objectives and adheres to its stated values.

(5) Internal Audit achieves this by:

1. reviewing processes through which the University's mission and goals and values are established, communicated and monitored;
2. reviewing the appropriateness of University strategies, policies and practices in achieving its mission;
3. evaluating the extent to which mission, goals strategies, policies and practices are implemented as planned;
4. monitoring compliance;
5. educating the University community on the risks and potential impact of corruption, fraud and maladministration;
6. coordinating investigations of alleged corruption, or maladministration;
7. referring disclosures of alleged corruption and maladministration through the Vice-Chancellor to the Independent Commission Against Corruption (ICAC);
8. providing advice in the development of policy and administrative processes to ensure their effectiveness and efficiency, including the management of opportunities and risks;
9. monitoring the operation of the University's Risk Management framework; and
10. liaising with the NSW Audit Office to ensure that internal and external programs, when combined, provide an optimal coverage of auditable areas.

(6) In conducting its activities, Internal Audit will consult with senior management and staff to identify good practice and formulate recommendations for improvement.

Part B - Internal Audit Scope, Accountability and Independence

(7) All activities of the University and its controlled entities fall within the scope of the University Internal Audit Program.

(8) Internal Audit is accountable to the University Council, through the Finance, Audit and Risk Committee of Council. Impartiality is achieved through the independence of the Chair, Finance, Audit and Risk Committee. Organisational linkages are achieved through the right of attendance of the Chancellor, Vice-Chancellor, University Secretary and Director, Governance and Corporate Affairs, and the Internal Auditor.

(9) The University Secretary and Director, Governance and Corporate Affairs is responsible for broad administrative oversight of audit activities. While the Internal Auditor is accountable to the University Secretary and Director, Governance and Corporate Affairs for administrative matters, the Internal Auditor has independent status to conduct approved audit activities, including the right of direct access to the Chancellor, Vice-Chancellor and Chair, Finance, Audit and Risk Committee.

Part C - Authority of Internal Audit

(10) Internal Audit staff and contractors may access University premises and have the right to inspect all University documents upon request. Internal Audit staff and contractors will respect the University policies in relation to the confidentiality and privacy.

Part D - Applicable Auditing Standards

(11) Internal Audit will conduct its activities in accordance with the International Standards for Professional Practice and Code of Ethics that are issued by the Institute of Internal Auditors.

Part E - Internal Audit Program

(12) The Internal Auditor is responsible for formulating and delivering a rolling program of audits, risk assessments and reviews (the Internal Audit Program). Tasks shall be included on the Internal Audit Program following a consideration of strategic and operational risk. The Finance, Audit and Risk Committee of Council, the Chancellor or the Vice-Chancellor may also direct the Internal Auditor to undertake audits, investigations or other assignments as a matter of priority.

(13) The Finance, Audit and Risk Committee of Council is responsible for:

1. reviewing and endorsing the Internal Audit Program; and
2. monitoring progress made towards the completion of the audit program.

(14) The Finance, Audit and Risk Committee of Council may review any outputs of the Internal Audit Program including detailed or summarised reports prepared the Internal Auditor or contracted internal auditors.

(15) The University's budget allocation for the completion of the Internal Audit Program shall be determined on an annual basis by the University Planning and Budget Committee on recommendation from the Finance, Audit and Risk Committee of Council. The budget will be based upon the indicative cost of conducting the approved Internal Audit Program.

Section 4 - Procedures

(16) Nil.

Section 5 - Guidelines

(17) Nil.