Office of Internal Audit

Driving Accountability at the Univeristy of Mississippi: Inside the Office of Internal Audit

The Office of Internal Audit was established by the Board of Trustees of the Mississippi State Institutions of Higher Learning (IHL Board) to support its fiduciary responsibilities and promote accountability across the IHL System.

• This includes all universities, research centers, regional campuses, and health science institutions.

The office operates under an official charter, as required by the International Standards for the Professional Practice of Internal Auditing, which defines its purpose, authority, and scope.

Purpose and Authority

The Office of Internal Audit is an independent function tasked with examining and evaluating the business and administrative activities of the IHL System.

• It ensures that policies, procedures, and legislative requirements are followed while promoting efficiency, effectiveness, and the achievement of institutional objectives.

The office has full access to records, personnel, and physical properties necessary for audit work. All documents and materials are handled with the same level of confidentiality as by those who are normally responsible for them.

Independence and Responsibility

The Office of Internal Audit has no direct responsibility or authority over the activities it reviews, ensuring objectivity in its assessments.

• The Chief Audit Executive (CAE) is authorized to request written responses to audit findings and recommendations.

The office has the authority to audit financial accounts across all institutions within the IHL System.

Scope of Work

The Office of Internal Audit evaluates whether the institution's systems of risk management, internal controls, and processes are adequate and functioning effectively to:

Identify and manage risks appropriately.

• Ensure accurate, reliable, and timely financial and operational information.
• Promote compliance with applicable laws, regulations, and policies.
• Support efficient use and protection of resources.
• Foster quality and continuous improvement in governance processes.
• Address significant legislative or regulatory issues.
• Identify opportunities for enhancing management practices.

Commitment to Excellence

The Office of Internal Audit serves as a vital resource to the IHL System, contributing to the continuous improvement of institutional operations and the fulfillment of higher education’s mission. By ensuring transparency, compliance, and efficiency, the office plays a crucial role in upholding the integrity and effectiveness of the IHL System.