1. Review of University’s operations and systems and provide information, analysis, appraisals and recommendations to Management,
2. Review the adequacy and effectiveness of the arrangements for risk management, control and governance processes,
3. Ascertain how the control systems ensure compliance with the laws and established policies and procedures.
4. Ascertain how the University’s assets are protected from losses arising from fraud, irregularity and corruption.
5. Ascertain the reliability of accounting and other information for preparing accounts, returns, and decision-making.
6. Ascertain the extent to which control systems operate, and provide for economical, efficient and effective use of resources.
7. Carry out procurement audits within the University to ascertain compliance with the Public Procurement legislations, efficiency and effectiveness of procurement operations.
8. Report its audit review to the Audit and Risk Management Committee per the timeframe stipulated in the University Internal Audit Charter and Audit Committee Charter.
9. Liaise with External Auditors on matters relating to audit by considering the scope of work to provide optimal audit coverage to the University at a reasonable overall cost.
10. Assist as appropriate in investigating any matter within the University regarding financial transactions or event suspected fraudulent activities and notify the Management and the Audit and Risk Management Committee of the results.
11. Ensure trends and emerging issues that could impact the University are considered and communicated to Management and the Audit and Risk Management Committee as appropriate.
12. Develop a risk-based annual internal audit plan and submit it to the audit and risk management committee for approval