Audit and Advisory Services assists all levels of University management in the discharge of their oversight, management and operating responsibilities by providing relevant, timely, independent assurance, advisory and investigative services using a systematic, disciplined approach to evaluate risk and improve the effectiveness of control and governance processes. Auditors present analyses, evaluations, and recommendations based on in-depth study of an operation, risk, activity, or emerging issue. In making an evaluation, auditors focus on:
- Reviewing and appraising the soundness, adequacy, and application of governance, risk management, accounting, financial, operating, and administrative controls, as well as promoting a risk-based balance of cost and benefit in establishing an effective system of control.
- Determining the adequacy of policies to achieve the organizational objectives.
- Ascertaining the extent of compliance with established policies, procedures, plans, standards, contracts, ethical values, laws, and regulations.
- Determining the extent to which University assets are accounted for and safeguarded from losses of all kinds.
- Ascertaining the accuracy, timeliness, and reliability of management information generated as the basis for internal and external decision-making.
- Evaluating the economy and efficiency in utilizing available resources.
- Consulting with management and reviewing operations to evaluate whether results are consistent with objectives; whether the operations are carried out as planned; and whether quality and continuous improvement are fostered.
Audit and Advisory Services is authorized to have full, free and unrestricted access to information including records, computer files, property, and personnel of the University in accordance with the authority granted by the University of California Board of Regents' approval of the Internal Audit Management Charter and applicable federal and state statutes. Except where limited by law, the work of Audit and Advisory Services is unrestricted. Audit and Advisory Services is free to review and evaluate all policies, procedures, and practices of any University activity, program, or function.
Audit and Advisory Services, in conjunction with senior campus management, develops an annual plan of audits and consultative projects based on a risk assessment and ranking methodology adopted across the UC system and augmented to address local circumstances. The plan is reviewed and approved by the campus audit committee and the Chancellor (chairperson) prior to submission to the Senior Vice President for Ethics, Compliance, and Audit Services and ultimately The Regents for approval.