Internal Audit

Internal Audit is an independent, objective assurance and consulting service designed to add value and improve the University’s operations. It helps the University accomplish its objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

The University has an 'outsourced with in-house management' Internal Audit model. The Legal and Governance Services unit within the Vice-Chancellor’s Division, help to manage the relationship with our auditors, and facilitate the successful completion of the Audit Plan in line with Council’s expectations.

The Internal Audit function is informed by the International Professional Practices Framework (IPPF) issued by the Institute of Internal Auditors. This means you know the audit team is independent, professional, appropriately trained and follow best practice professional standards.

We encourage you to get in touch at any time if you would like to discuss or request our support. Please direct all questions to our Internal Audit team at internalauditor@newcastle.edu.au.

Internal Audit Authority

Internal Audit’s authority is outlined in the Internal Audit Charter.

Internal Audit is entitled to full, free and unrestricted access to all of the University's and its controlled entities activities, records, premises, property, personnel and any other documentation or information which the General Counsel and Chief Governance Officer
considers necessary to properly fulfil its functions as specified in the Internal Audit Plan, scope of individual audits, or
other special tasks or investigations.

If you are involved in an Internal Audit, you will be provided access to a secure Internal Audit SharePoint site, to confidentially share relevant information. Any records, documents or information we obtain during the course of audit activities are used solely for the audit or review. All documents are securely stored with access controlled.

Strategic Audit Plan

We plan a series of audits to make sure we review the risks, areas, processes, projects, and controls that are most important to the University. These are determined from the University’s Enterprise and Operational Risk Profiles and are detailed in an annual Internal Audit Plan. This Plan is reviewed annually and approved by the Risk Committee. We evaluate the risks and possible benefits to be realised from an audit and give priority to higher-risk and higher-benefit projects.

We plan our audits to ensure consistency with the University’s objectives; that management is getting helpful, relevant and timely information from the audit; and that relevant policies, procedures and regulations are understood and are being followed.

What to expect from an audit

Sometimes, people can get the wrong idea about audits. Audits are not trying to ‘catch you out’ or point fingers, instead, the Internal Audit function is here to help you and your team by identifying ways to improve business processes that will support the University deliver on its Strategic Plan.

A systematic process and methodology is followed which means you know what to expect, and what is required of you, at each stage of a review. If you are involved in an internal audit you will receive access to supporting information to guide you through the process.

The Risk Committee

Internal Audit reports to each meeting of the Council’s Risk Committee on the status of all audit work, progress in implementing the Internal Audit Plan, an update on the status of how agreed management actions are being implemented (identified to address issues raised in an audit), and other information as requested by the Committee.