The role of Internal Audit is to:
- Assess the adequacy and effectiveness of the system of risk management and internal controls operated within the District;
- Review and evaluate compliance with policies, plans, procedures, laws and regulations;
- Assess the reliability and integrity of information;
- Safeguard assets.
What is an audit?
A formal examination of the Districts accounts or financial situation to detremine to determine if they are accurate and in accordance with board policy, Generally Accepted Accounting Principles, and laws and regulations.
An audit will determine:
- Compliance with District policies and procedures
- Operational effectiveness and effeciency
Audits may be performed annually, periodically, or within designated timeframes prescribed by regulatory requirements, or other deadlines imposed by management.