helping you achieve your research objectives division of audit services

Helping You Achieve Helping You Achieve Your Research Your Research

ObjectivesObjectives

DIVISION OF AUDIT DIVISION OF AUDIT SERVICESSERVICES

Navigating the Administrative Highway - September 2004

Presentation ObjectivesPresentation Objectives

1.1. Overview of the Division of Audit Overview of the Division of Audit ServicesServices

2.2. Navigating the Administrative Navigating the Administrative HighwayHighway

3.3. How Audit Services can help you How Audit Services can help you achieve your research objectivesachieve your research objectives

4.4. Recap and questionsRecap and questions


Overview of Audit ServicesOverview of Audit Services

INFORMATION SYSTEMSAUDITOR

Troy Harkot

INTERNAL AUDITORJohn Cornwell

SENIOR INTERNAL AUDITORDale Holaday

DIRECTOR OF AUDIT SERVICESAl Novakowski

AUDIT COMMITTEE

VICE PRESIDENT(FINANCE AND RESOURCES)

PRESIDENT

UNIVERSITY OF SASKATCHEWANBOARD OF GOVERNORS


Overview of Audit Services – Overview of Audit Services – con’tcon’t

Internal auditors ascribe to Internal auditors ascribe to professional standardsprofessional standards

Distinguish internal auditors from Distinguish internal auditors from other employeesother employees

Bestows credibility to internal Bestows credibility to internal auditorsauditors


Overview of Audit Services – con’tOverview of Audit Services – con’t

Resources:Resources: Institute of Internal Auditors (IIA)Institute of Internal Auditors (IIA) Association of College and University Association of College and University

Auditors (ACUA)Auditors (ACUA) Canadian Association of University Business Canadian Association of University Business

Officers (CAUBO)Officers (CAUBO)

Our mandate is approved by the Board of Our mandate is approved by the Board of Governors. Governors.

We are dedicated to assisting University We are dedicated to assisting University Management in the effective discharge of their Management in the effective discharge of their responsibilities. responsibilities.


Question?Question?

By a show of hands, how many of you have had any By a show of hands, how many of you have had any dealings with an auditor?dealings with an auditor?

Traditional viewTraditional view Internal Audit modelInternal Audit model

““a tiny cloud that can mushroom into a tempest that a tiny cloud that can mushroom into a tempest that may rock the pillars of the organization” (CGA Canada)may rock the pillars of the organization” (CGA Canada)


Navigating the Navigating the Administrative Highway – Administrative Highway –

Audit Services’ ViewAudit Services’ ViewTravelling the Travelling the

highway highway

To reach your To reach your research objectivesresearch objectives

Using the Using the infrastructure infrastructure created created


The Infrastructure - Audit The Infrastructure - Audit Services’ ViewServices’ View

System of peopleSystem of people ComputersComputers Data Data Information systemsInformation systems Policy, procedures, and guidelinesPolicy, procedures, and guidelines

The Goal The Goal To help you achieve your objectiveTo help you achieve your objective


The journey to a successful The journey to a successful research projectresearch project

Risks involved in completing the Risks involved in completing the journeyjourney

Some may be obvious while others Some may be obvious while others are notare not

Analogy of a family vacationAnalogy of a family vacation


The JourneyThe Journey

ObjectiveObjectiveTo reach your destinationTo reach your destination safely, efficiently, timely, safely, efficiently, timely, and within budget!and within budget!

Identify “things” that mayIdentify “things” that may not allow us to get therenot allow us to get there

Defining risk and internal Defining risk and internal control.control.


Defining risk and Defining risk and internal controlinternal control

Risk: the potential of something Risk: the potential of something occurring that will prevent us from occurring that will prevent us from achieving our objective.achieving our objective.

Internal control: an action, process Internal control: an action, process or item to mitigate that risk.or item to mitigate that risk.


Risk AversionRisk Aversion

Planning the tripPlanning the trip

MapsMaps

MoneyMoney

Packing suitcasesPacking suitcases



Car maintenanceCar maintenance

Tune-upTune-up

Oil changeOil change

Check the tiresCheck the tires

Buy gasBuy gas



Make Make accommodation accommodation reservationsreservations

Ensures your family Ensures your family will have someplace will have someplace to sleepto sleep


Risk aversion costs Risk aversion costs money!money!

All of the “internal controls” cost All of the “internal controls” cost money. money.

What happens if you decide not to What happens if you decide not to spend money on “controls”?spend money on “controls”? You may have car troubleYou may have car trouble You may run out of gasYou may run out of gas

The journey may cost you more or you The journey may cost you more or you may not get to your destination!may not get to your destination!


Relating the analogy to Relating the analogy to your research projectyour research project

Risk is identified asRisk is identified as

the potential of something occurring the potential of something occurring

that will prevent you from achieving that will prevent you from achieving

your research objectives.your research objectives.


Areas of RiskAreas of Risk

1.1. Compliance with regulatory bodiesCompliance with regulatory bodies

2.2. Use of University facilities and Use of University facilities and assetsassets

3.3. ExpendituresExpenditures


1. Risks identified: 1. Risks identified: ComplianceCompliance

Freezing or closing of the grant Freezing or closing of the grant account(s)account(s)

Of the individual researcher, orOf the individual researcher, or

Of all grant accounts at the Institution Of all grant accounts at the Institution


Compliance issuesCompliance issues

Tri-CouncilTri-Council Funding received through Funding received through

parliamentary appropriationsparliamentary appropriations

Responsibility to Parliament and Responsibility to Parliament and taxpayerstaxpayers

Audit Services role and responsibilityAudit Services role and responsibility


2. Risks identified: Using 2. Risks identified: Using University facilities & University facilities &

assetsassets

Misuse and abuse of University Misuse and abuse of University assetsassets

Exposure to insurance and liability Exposure to insurance and liability issuesissues

Unfavourable public perceptionUnfavourable public perception


3. Risks identified: 3. Risks identified: expendituresexpenditures

Financial loss to the UniversityFinancial loss to the University Unauthorized or inappropriately authorizedUnauthorized or inappropriately authorized Unsupported expendituresUnsupported expenditures Ineligible expendituresIneligible expenditures Overspending Overspending

Expending additional resourcesExpending additional resources

Integrity and reputation compromisedIntegrity and reputation compromised Individual and the University as a wholeIndividual and the University as a whole


Bridging the gapBridging the gap

Lack of knowledge – increases the risk that Lack of knowledge – increases the risk that research funds may be inappropriately spentresearch funds may be inappropriately spent

Audit Services –adds valueAudit Services –adds value


Independent Eyes and Independent Eyes and EarsEars

Audit Services acts as management’s Audit Services acts as management’s eyes and earseyes and ears

Making sure that the University’s Making sure that the University’s assets are protected assets are protected

Making sure that the University is Making sure that the University is being a good steward of the funds being a good steward of the funds that have been entrusted to the that have been entrusted to the researcher and institutionresearcher and institution


Independent eyes for a Independent eyes for a smooth ridesmooth ride

We are the independent We are the independent eyes that make sure all eyes that make sure all the system checks and the system checks and balances are in place.balances are in place.

This will help the This will help the researcher have a researcher have a smooth ride down the smooth ride down the Administrative Administrative Highway.Highway.


Contact informationContact information

Al Novakowski, DirectorAl Novakowski, Director

Ph: 4915 Ph: 4915

email: [email protected]: [email protected]

Dale Holaday, Senior Internal AuditorDale Holaday, Senior Internal Auditor

Ph: 4916 Ph: 4916

email: [email protected]: [email protected]


http://www.usask.ca/audit/http://www.usask.ca/audit/

Troy Harkot, Information Systems Troy Harkot, Information Systems AuditorAuditor

Ph: 4917 Ph: 4917 email: [email protected]: [email protected]

John Cornwell, Internal AuditorJohn Cornwell, Internal AuditorPh: 1872 Ph: 1872 email: [email protected]: [email protected]

Office Fax: 1904Office Fax: 1904

helping you achieve your research objectives division of audit services

Documents

internal control

objective slide

navigating t

family vacation slide

university management

organization cga canada

journey objective objective

journey risks