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Internal Audit & Risk Aversion NCURA Lead Me Capstone 2015 by Elaine Moya Loma Linda University
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The 5 Practices of Exemplary Leadership #1 Model the Way #2 Inspire a Shared Vision #3 Challenge the Process #4 Enable Others to Act #5 Encourage the Heart
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Challenge the Process Issue- During our last year’s A-133 audit, LLU had a finding. This finding concluded that LLU equipment release forms were not completed or documented properly. Possible Solution: complete an audit with limited scope and focus on federal projects to find problem areas.
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Inspire a Shared Vision To reduce risk for future audit findings To make sure we are in compliance with new UG regulations To review analyst work and reaffirm their due diligence Assess risk and involve Internal Audit and key players to support the continued need
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Model the Way To provide an example or model for others to follow To lead other analysts in taking action Process Included: Narrow focus, with federal and federal flow-through projects Pull transactions for previous fiscal or calendar year Randomize transactions and selected based on known risk areas and other common i.e. Miscellaneous expenses, Miscellaneous professional fees, Subaward payments, Capital Equipment and Salaries and wages Select (x%) of transactions to review Have other financial analyst assist with pulling the transactions Complete review
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Enable Others to Act & Encourage the Heart Analyze transactions Consider analyst progress report submissions and expenses incurred outside of the project period Provide report for management to review Train analysts and provide awareness to current deficiencies Present to internal audit need for research focus on risk
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Project Status Completed two phases of the project by completing and reviewing selections, obtaining leadership support, and allowing analyst to participate and review their work I’ve met with my director and informed her of additional areas of risk and are determining how to reduce My next step- create a plan to make this project sustainable and to complete on a quarterly basis
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Personal Growth Planting the seed (or idea) is part of inspiring a shared vision. Personal credit or praise does not need to be the highlight Sincere encouragement is key to building rapport & enabling others to participate Be ready for change and keep current (Find new cheese) Challenging the process can be done in a amiable way that provides the opportunity for open discussion By following the five practices I will strengthen my leadership skills which may lead to new opportunities
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Giving Back to NCURA I’ve volunteered at the NCURA Annual Registration Desk & plan to continue volunteering for upcoming opportunities I’ve informed my LLU colleagues of the NCURA Lead Me Program & it’s benefits Maintain network within NCURA Collaborate Seek opportunities as a Region 6 volunteer MINT applicant
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Questions? Elaine Moya, MBA, CRA- Financial Analyst III Loma Linda University Office of the Vice President of Research Affairs Financial Management 24887 Taylor Street Suite 202, Loma Linda, California 92350 (909) 558-8345 · fax (909) 558-0199 · Email: emoya@llu.eduemoya@llu.edu
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