Internal Audit Services Policies and Procedures

Overview

The functions of the Internal Audit Office includes internal controls, policies and procedures and audit processes. The Internal Audit Office is an independent, objective, and consulting function of the Continuing Education Learning Center, designed to add value and improve the college operations. We provide the following functions to assist administration and management in meeting goals and objectives:

  • On-going professional reviews
  • Reliable analysis and risk assessments
  • Value-added solutions and recommendations

These functions are accomplished by bringing a systematic-disciplined approach to evaluate and improve the effectiveness of risk management and governance processes, including, participating in the development or modification of financial, operational, and control activities.

Our primary focus is to provide excellent service to the college. The audit process is a collaborative effort and works best with clear and continued communication. The relationship with the college community will be characterized by respect, helpfulness, and openness. Our commitment is to carry out responsibilities in accordance to the highest level of integrity, competence, and ethical conduct.

Types of Audits and Other Services

The Internal Audit Office at Craven Community College performs a variety of techniques in its ongoing review of Continuing Education’s operations, programs, and resources. Audits shall maintain objectivity and integrity, shall be free of conflicts of interests, and shall not knowingly misrepresent facts, or subordinate their judgment to others. The Audit Reviews objectives include:

  • Assets and records are protected
  • Information is accurate and reliable
  • Resource use is efficient and effective
  • Operations are in compliance with laws and regulations
  • Goals and objectives are met

Types of Audit Reviews and Techniques

Operational Reviews - examines the use of resources and evaluates whether those resources are being used effectively and efficiently.

Financial Reviews - evaluates the accounting and reporting of financial transactions, including commitments, authorizations and receipts, disbursement of funds, and sufficient controls over cash and cash-like assets.

Compliance Reviews - focuses on adherence to laws, regulations, policies and procedures.

Information Systems Reviews - examines the system input, output, and processing control of automated information systems and how people use those systems.

Internal Control Reviews - examines the components of the learning center and auxiliary business activities such as payroll, cash handling, contracts and financial reporting subject to review.

Investigations - determine the validity of allegations or evidence of impropriety or other instances of fraud, waste, abuse, or improper activities.

Consulting Services - services which may include advice and facilitation.

The internal audit process involves looking at what is happening and compares it to what should be happening.

Internal Controls

You may have heard of the term internal controls, but what exactly is it?

Internal controls are methods employed by management or administrators to help ensure the achievement of an objective. They are processes an organization takes everyday to make sure assets are safeguarded against waste, fraud and abuse, data and records are accurate and reliable, and resource use is consistent with prescribed polices and procedures.

While internal controls are primarily the responsibility of management or administrators, every employee at the college has some responsibility for the achievement and adequacy of internal controls. Most internal controls can be classified as directive, preventive or detective.

Directive controls are designed to establish desired outcomes. Preventive controls are designed to discourage errors or irregularities from occurring. Detective controls are designed to identify an error or irregularity after it has occurred.

Examples of Internal Controls:

  • Locking your office to discourage theft
  • Properly securing cash and checks within a department
  • Delivering reports to management timely
  • Cross-training staff in the event key personnel were not available because of an illness or decision to leave the college
  • Reviewing data to ensure adjustments are properly documented and approved
  • Preventing misappropriation of funds by ensuring the same person does not initiate, authorize, and process a transaction
  • Writing procedures to ensure compliance
  • Meetings or training seminars
  • Backing up data and software daily to an offsite location
  • Counting inventory
  • Restricting access to sensitive, private, or confidential data to authorized individuals by using a PIN
  • Periodic audits by an internal audit department to access operations and to ensure compliance of rules and regulations
  • Providing a list of incorrect transactions on an exception report

Internal controls reduce the probability that certain exposures will lead to loss or adverse business conditions. Internal control is not always good if it increases the complexity of an activity. Maintaining sound systems of internal control require cooperation and cognizance from each employee. Therefore, ongoing efforts and steadfast work to strengthen the integrity of our operations in Continuing Education will help build an institution of quality and high standards.

Policies and Procedures

Continuing Education Payment Policy
Changes to Course Sections
Instructor Pay Rates
Course Setup
Waivers
Course Analysis/Breakeven
Attendance Rosters and Signatures
Census Dates for Distance Education
Registration
Level 1 Audit

Resources

NC Administrative Code, Title 23, Community Colleges - Laws/statues relevant to the NC Community College System
Continuing Education Master Course List - To search for continuing education courses

Contact Information

Nina Taylor
Internal Auditor of Continuing Education
taylorn@cravencc.edu

Mailing Address:
Craven Community College
Internal Audit Department
800 College Court
New Bern, NC 28562

Phone: (252)638-0401