ROLE OF INTERNAL AUDIT

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The Regents of the University established the Internal Audit function to perform comprehensive audits of the diverse records and operations of the University. The Internal Audit Department can assist UNM administrators and principal investigators by:

1. Evaluating processes used in administering sponsored projects. The goal of this evaluation is to give advice on process weaknesses which might lead to non-compliance with the contractor’s/funding agency’s requirements and/or University policies.

2. Conducting independent audits of sponsored project activity for compliance with applicable policies, laws, and regulations.

3. Providing reports on the results of these evaluations and reviews, which will include recommended methods to improve processes. Where appropriate, these results will also be reported to the Audit Committee of the Board of Regents, the funding agency, the State Auditor’s Office, and law enforcement.

4. Providing consulting services and can be contacted to obtain advice or guidance on individual sponsored project issues.

Note: The policy on Internal Auditing can be found in the Board of Regents’ Policy Manual, Section 7.2 and 7.3.