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Audit & Advisory Services functions as an independent appraiser of University activities.  The primary mission of Audit & Advisory Services is to prepare reports, analyses, information, counsel and recommendations to assist members of management, the administration, and the Board of Trustees in the effect discharge of their responsibilities and to promote operational effectiveness and efficiency.  Audit & Advisory Services also partners with management to provide value-added advisory services.


Audit & Advisory Services reports directly to the Audit and Compliance Committee of the Board of Trustees.  This reporting relationship promotes independence and assures adequate consideration of audit findings and recommendations.

To the extent permitted by law, Audit & Advisory Services shall have full, free and unrestricted access to all of the University's activities, records, property and personnel.

To remain objective, Audit & Advisory Services shall have no operational responsibility or authority over any operations or activities they review, unless specifically approved by the Audit and Compliance Committee of the Board of Trustees.  Therefore, any review or recommendation made will not relieve supervisors of the responsibilities inherent to their positions.


The major responsibilities of Audit & Advisory Services include:

  • assessing financial and operational processes to determine if these will produce accurate, reliable and timely information consistent with the University’s mission and in compliance with relevant regulations, laws, contracts, policies, plans and procedures;
  • verifying that assets are appropriately safeguarded;
  • working in partnership with management to ensure policies and processes are economical and efficient; and,
  • serving as a resource to the University community in identifying the need for and characteristics of adequate systems of internal control, governance and risk management.

Audit & Advisory Services will discuss any findings and recommendations with staff in the engagement area being reviewed to ensure they are valid and understood.  Significant findings will be presented in a written report upon completion of the engagement.  Audit & Advisory Services and management of the engagement area will review draft reports; management’s written comments will be included in the final version of the report.  The report will be distributed to the Board of Trustees, the President, Officers of the University, Secretary of the Board of Trustees, Chancellor, Dean, management of the engagement area, and other appropriate university officials.

Audit & Advisory Services engagements shall be conducted in accordance with The Institute for Internal Auditors’ (IIA) mandatory guidance in the International Standards for the Professional Practice of Internal Auditing (Standards), which includes the definition of internal auditing and the IIA Code of Ethics.

To read the official USC policy concerning Audit & Advisory Services, please read policy BTRU 1.06 on the University Policies and Procedures website.