University Risk & Compliance Charter
Mission
The University Risk & Compliance Office at Idaho State University is an independent, objective, assurance and consulting organization. Our mission is to assist the University in the accomplishment of its goals in the primary disciplines of learning, research, and public service. We do this by providing a systematic, disciplined, approach to evaluating, advising, and improving the processes of resource application, risk managment, control, and governance throughout the University.
Responsibility
University Risk & Compliance accomplishes its mission through the achievement of the following fundamental responsibilities:
- Provide reasonable assurance the University’s goals and objectives are being met by appraising the economy and efficiency with which resources are employed and identifying opportunities for cost savings and revenue enhancements.
- Assist University management by identifying and evaluating significant exposures to risk and contributing to the improvement of risk management and control systems.
- Verify the existence of University assets and ensure adequate financial and management safeguards and controls are maintained to protect them from loss.
- Ascertain compliance with University policies and procedures and government laws and regulations.
- Perform special studies and assessments to deal with specific problems or information needs and provide consultation and guidance relative to new policies, procedures, processes, and systems.
- Perform special reviews to investigate fiscal misconduct, fraud, conflicts of interest, waste, and abuse and recommend controls for their prevention and detection.
- Act as a liaison with all external audit organizations to provide assistance where appropriate and maximize audit effort through effective coordination.
Authority
The University Risk & Compliance Director reports functionally to the Audit Committee of the Idaho State Board of Education and administratively to the University President. The University Risk & Compliance Director and staff are authorized to:
- Have full, free, and unrestricted access to all University activities, records, properties, systems and personnel.
- Audit, review or investigate any function, activity, or unit of the University and affiliated organizations.
- Allocate resources, set frequencies, select subjects, determine scopes of work, and apply the techniques required to accomplish audit objectives.
- Have direct access to and communication with the Audit Committee of the State Board of Education and University President.
- Obtain the necessary assistance of personnel in units of the University where they perform audits, reviews or investigations, as well as other specialized services from within or outside the University.
Values
University Risk & Compliance envisions itself as the University’s principal provider of cost-effective, comprehensive, management consulting and auditing services. In carrying out our mission, we share certain beliefs and values and are committed to excellence in every way; in our work ethic, in the products and services we provide, and in our relationships with our customers, employees, industry, and community. We are dedicated to providing service with the highest degree of fairness, integrity, and ethical conduct and in a manner that reflects our core value system, as described below.
Core Values:
- University Risk & Compliance is committed to providing our customers with quality services while striving to nurture long-term relationships. We are sensitive and responsive to our customers’ needs and strive to be fair and objective, honest, courteous, and professional in all our dealings, both as individuals and as representatives of the University. Our relationship with the University community will be characterized by respect, helpfulness, trust, patience, and openness.
- University Risk & Compliance maintains an open-door policy at all times, encouraging the flow of communication, the exchange of ideas, creativity, and self-esteem in the work place.
- University Risk & Compliance will conduct examinations in accordance with applicable standards established by the American Institute of Certified Public Accountants, Institute of Internal Auditors, and/or other applicable audit authorities.
- University Risk & Compliance, although a part of the University, is committed to maintaining independence in defining the scope and objectives of our examinations and reporting the results. We are independent when we carry out our work freely and objectively. Independence permits us to render the impartial and unbiased judgments essential to the proper conduct of audits. We achieve independence through organizational status, objectivity, and personal integrity.
- University Risk & Compliance will clearly communicate what is expected of our people and invest in them to create loyal, long-term employees. We strive to develop employees known for their character, commitment, and confidence, and we recognize the importance of each individual in the success of the University.
- University Risk & Compliance is committed to maintaining professionalism as internal auditors through continued education and training.