HomeAdmissionsAbout LincolnDirections to LincolnSearch


Office of Audit and Control Home
LU
Message from the Internal Auditor
LU
Hot Issues Email SiteLU
Charter of the Office of Audit and Control
LU
Mission Statement
LU
Hot Issues Email Site
LUFrequently Asked Questions
LU
Internal Controls
in Plain Language

LU
Links and Useful Sites
LU
Lincoln University Policy and Procedures
LUPresident's Page

 

Welcome to the Office of Audit and Control

Charter

This Charter establishes and defines the purpose, independence, authority, accountability and standards of the Office of Audit and Control.

Purpose

The Office of Audit and Control is established within Lincoln University to provide independent, objective assurance and internal consulting services to management, administrators and the Board of Trustees of the University. The Office is a service organization whose purpose is to assist members of the University in the effective and efficient discharge of their responsibilities by bringing a systematic disciplined approach to evaluate and improve the effectiveness of risk management, internal control and governance processes.

Independence

To provide for the independence of the Office of Audit and Control, its personnel shall report to the Internal Auditor, who reports functionally and administratively to the President of the University with a dotted line reporting relationship to the Chair of the Audit Committee of the Board of Trustees. In performing its functions, the Office of Audit and Control shall have neither direct responsibility for, nor authority over, any of the accounts or activities that it reviews. The audit review and appraisal process does not, therefore, relieve other persons in the University of the responsibilities assigned to them. Management is responsible for making appropriate decisions consistent with the University policies, procedures, mission, goals, vision and good business judgment.

Authority

The Internal Auditor and the staff of the Office of Audit and Control shall have unrestricted authorization to: - Inspect all properties, functions, records, files, accounts and all other forms of information held by the University or its agents. - Require all offices of the University to supply such information, assistance and explanations as are necessary for the performance of audit duties. - Have full and free access to the Audit Committee of the Board of Trustees. The Internal Auditor and the staff of the Office of Audit and Control are not authorized to: - Perform any operational duties for the University or its affiliates. - Initiate or approve accounting transactions external to the Office of Audit and Control. - Direct the activities of any University employee except those assigned to the Office of Audit and Control.

Accountability

The Office of Audit and Control, in the discharge of its duties, shall be accountable to the President and the Board of Trustees (through the Audit Committee) to: - Provide annually an assessment on the adequacy and effectiveness of the University's processes of controlling and managing its risks including systems for safeguarding assets and compliance with policies, procedures, regulations, and statutory requirements. - Report significant issues related to the processes for controlling the activities of the University, including potential improvements to those processes, and provide information concerning such issues through resolution. - Periodically provide information on the status and results of the audit plan, including copies of all audit reports and reviews the office issues and the sufficiency of department resources. - Coordinate and liaison with other control and monitoring functions as appropriate (i.e., external auditors, risk management, compliance, security, legal, ethics, environmental). - Report immediately to the Chair of the Board of Trustees and the Chair of the Audit Committee all fraudulent activities discovered and all other matters of concern of $5,000 and above. - Maintain confidentiality of records, files, accounts and other information and data to which it is provided access.

Standards of Audit Practice

The Office of Audit and Control will meet or exceed the Standards for the Professional Practice of Internal Auditing of The Institute of Internal Auditors and the Association of College and University Auditors.

 

 


Lincoln University of the Commonwealth of Pennsylvania
1570 Baltimore Pike, P.O. Box 179, Lincoln University, PA 19352 \ (484) 365-8000