It helps the university accomplish its objectives by bringing a systematic, disciplined approach to the evaluation and improvement of university processes related to university-wide risk management, control and governance.
The Department of Internal Audit is established within the University of Colorado by the Board of Regents. Its role and responsibilities are defined by the Board of Regents as set forth in the Internal Audit charter. The Audit Committee of the Board of Regents provides oversight of the Department of Internal Audit. The director of the Department of Internal Audit is appointed by the Board of Regents, reports functionally to the Audit Committee and reports administratively to the president.
Internal Audit Conduct at the University of Colorado
The Department of Internal Audit conducts its activities in accordance with The Institute of Internal Auditors' International Standards for the Professional Practice of Internal Auditing. In addition, department personnel adhere at all times to the Board of Regent’s Principles of Ethical Behavior and the codes of professional ethics established by their professions.
Encompassing all department activities is the Institute of Internal Auditors' Code of Ethics. This code establishes the principles and expectations governing the behavior of individuals and organizations in the conduct of internal auditing. Further, department personnel will adhere to the Information Systems Audit and Control Association’s Code of Professional Ethics or the Association of Certified Fraud Examiners’ Code of Ethics, as appropriate to the project.