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 and achievement of the Looking Ahead Strategic Plan (2020-2025), 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 Internal Audit model. Ernst & Young (EY) has been engaged as the University’s internal audit provider. EY are specialised, highly trained auditors with expertise in the University sector, who will work collaboratively with you to improve your business processes.

The Risk Services team 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 provider complies with 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 and Risk Services 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 activities, records, premises, property, personnel, assets and any other documentation or information which the University Secretary 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 areas, processes, projects, and controls that are most important to the University. These are determined from the University’s Strategic and Operational Risk Registers and are detailed in a three-year Internal Audit Plan. This Plan is 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.

You can learn more about the reviews scheduled in the Internal Audit Plan here.

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. You can learn more about each audit stage and we’ve also provided answers to the questions we’re often asked.

The Risk Committee

Internal Audit reports to each meeting of the Council’s Risk Committee on the status of all audit work and annual Audit Plan progress. Additionally, every six months, the University Secretary will provide an update on how agreed management actions (identified to address issues raised in an audit) are being implemented. This reporting cycle supports Council’s governance responsibilities and aims to support the University operating effectively, efficiently, sustainably and compliantly.