Question:
What are the Objectives of an Internal Audit?
Answer:

The objectives of an internal audit are to:

  • establish the areas of risk in the area being audited;
  • establish the controls in place to address those risks and review their adequacy;
  • check whether the University‚Äôs financial regulations are being followed;
  • carry out detailed testing of the controls being relied on; and
  • make recommendations where weaknesses or inefficiencies are observed.