"Let us have the courage defy the consensus, the courage to stand for principle."
Pres. Thomas S. Monson, Ensign, May 2004, p. 55
Frequently Asked Questions
Q. What does an Internal Auditor do?
A. An internal auditor is responsible for carrying out a comprehensive internal audit activity which includes:
- Assurance services - objective examination of evidence for the purpose of providing an independent assessment of an activity which may be financial, operational, compliance, systems security, or due diligence in nature.
- Consulting services - Counseling, advisory, facilitation, or training activities intended to add value and improve operations without assuming management's role and responsibility.
Q. How do you select areas to audit?
A. Audit engagements are generally selected as a result of a risk assessment process which is done to identify, assess, manage, and control potential events or situations which may impact or limit management's ability to successfully achieve its objectives. A variety of risk factors are considered in the risk assessment process including financial, legal, health and safety, environmental, reputational, sensitivity of data, changes in personnel, importance to the organization's mission, etc.
Q. Can I request an audit to be performed in my area?
A. Yes. There may be many benefits to having an audit done in your area. If you or someone in your area has assumed new responsibilities, an audit can provide an independent, objective review of internal controls, compliance with policies, procedures, laws, and regulations to determing whether operations are functioning as intended. Also, if you suspect something is not right within your area, an audit can help determine appropriateness of activities free from any internal influences.
Q. What should I expect when an audit is being performed in my area?
A. Please refer to a description of the audit process by clicking here.
Q. How will any audit findings be reported?
A. During the course of an audit engagement, you and your staff will be kept informed of any and all audit findings. At the conclusion of the audit, you will be given an opportunity to review and respond to the findings and recommendations prior to the issuance of the final audit report. Less significant issues will be ommitted from the report and will be reported in discussion only to you. Final reports will be distributed to key personnel within the audited area, the vice president over the area, and the University President.
Q. What is considered to be fraud?
A. Fraud can be broadly defined as any activity where personal or organizational enrichment through deliberate misuse or misapplication of assets or resources occurs.
More specifically, fraud encompasses a variety of criminal activity including bribery, extortion, embezzlement, conspiracty, theft, robbery, financial statement misstatements, forgery, larceny, fictitious transactions, etc. Within each of these categories a number of specific types of fraud could be identified. However, suffice it to say that fraud can be anything from stealing office supplies to financial statement fraud to embezzling large dollars.
Q. How do I report fraud, waste or abuse if I suspect something might be wrong?
A. If you suspect someone may be or is committing fraud, excessively wasting University resources, or abusing University policies and procedures, please report this activity using the COMPLIANCE HOTLINE by calling 1-888-238-1062 or by reporting on-line by clicking here. This hotline is a third party service contracted by the Church Education System and provides anonymity where desired.
