1. January 26, 2016 Jason Wessels, Manager of Internal Audit Mary Pat Bernsen, Senior Auditor Teresa Braunseis, Senior Auditor 0 The Department of Internal Audit

2. University Compliance and Internal Audit 1 Seven Internal Auditors (CPA, CISA, CIA, CFE) Three Compliance Auditors One Institutional Conflict of Interest Compliance Auditor Co-sourced audit services

3. University Compliance and Internal Audit 2 Executive Director of Compliance & Audit: Gail Peters Director of Internal Audit: Gail Presswood Internal Audit Managers: Jason Wessels and Steve Cole Senior Internal Auditors: Mary Pat Bernsen, Teresa Braunseis, Debbie Colletta, and Nicole Kohlbrecher

4. What is Internal Audit? 3

5. Internal Audit 4 Internal Auditors: Identify risks in an organization Communicate identified risks to key decision-makers Recommend process improvements to reduce risks

6. Internal Audit 5 Provide assurance and/or identify opportunities to improve : Internal controls, including technology Risk management Governance Information accuracy, reliability and timeliness Safeguarding of assets Efficiency and effectiveness of University programs/processes Compliance (separate Federal compliance audit function)

7. Internal Audit What We Do Planned or unplanned audits Evaluate the effectiveness of controls Internal control training What We Do Not Do Write or create policies Provide tax advice Design an internal control framework 6

8. Internal Audit 7 Information Technology Construction/Major Third Party Contracts Investigative Types of Audits: Operational Governance

9. Internal Audit 8 Other Audit Activities: Control Consulting: Advisory related to new or changing systems/processes Management Requests: Requested projects / advisory to support management in meeting key objectives

10. Internal Audit 9 University Committee Participation: Examples include teams focused on risk management, governance or regulatory matters, IT security, cost reduction Internal Control/Fraud Awareness Training: As requested or as part of audits Follow up on Prior Audits

11. Internal Audit 10 Suspected Theft or Misuse of University Assets Tell your manager/supervisor Or Contact Internal Audit (314) 362.4910 Or The Compliance Hotline (314) 362.4998

12. Internal Audit’s Role with the CAC 11 Internal Audit is a resource. Available to research your questions about controls, governance, University policy, etc. Report concerns anonymously through the Compliance hotline

13. Internal Audit’s Role with the CAC 12 Upcoming Presentations: Internal Cash Controls at the Clinics Fraud – Real Life Examples Inventory and Asset Controls Other ideas – contact Mary Pat Bernsen

14. 13 Questions? Thank you! The Office of Internal Audit: http://internalaudit.wustl.edu