Mission
Financial and Operational Auditing (FOA) is an independent, objective assurance and consulting activity designed to add value and improve the University’s operation. The services provided by FOA assist the University in accomplishing its objectives by bringing a systematic approach to evaluate and improve the effectiveness of risk management, internal controls and governance processes. Financial and Operational Auditing furnishes management with analyses, appraisals, recommendations and counsel concerning activities reviewed.

• University assets and information are properly safeguarded;
• Financial and other data are accurate and reliable;
• Compliance with policies, operating procedures, laws and regulations; and
• University resources are used efficiently and effectively.

Independence
Financial and Operational Auditing should be independent of the activities it audits. FOA is independent when it can carry out its work freely, objectively and without conflict of interest. This independence permits the department to render impartial and unbiased judgment.

Organizational Status
Financial and Operational Auditing should have the support of the University administration and the Board of Regents so that it can fulfill its responsibilities and work freely from interference. Financial and Operational Auditing reports administratively to the Vice-President for Administration and Finance and meets, as necessary, with the President and the Audit Committee of the Board of Regents.