Internal Auditing & Management Consulting Overview Betsy Bowers Associate Vice President Board of Trustees Orientation August 22, 2012
Feb 09, 2016
Internal Auditing & Management ConsultingOverview
Betsy BowersAssociate Vice President
Board of Trustees OrientationAugust 22, 2012
Reporting AuthorityPresident
Associate Vice President
Internal Auditor III
StudentEmployeeInternal Auditor
UWF Board of Trustees,Audit & Operations
Committee
Note: One position (.75 FTE auditor) was lost in 2011/12 for budget cuts
Name Betsy Bowers Cindy Bookout Greg Hale Amy Bueno
Title Associate Vice President
Internal Auditor III
Internal Auditor
Student Assistant
Years in Internal Auditing
28 9 2.5 2
Years with UWF 18 years 2 yrs 1.5 years 2
Years Audit Experience 30 11 2 2
Educational Degrees,
Institution, and Major
MBA and BA (Acct)East Tennessee State
University
BS AccountingUniversity of
South Alabama
MAcc and BSBA (Acct
Information Systems)
University of West Florida
Working toward BS Health Science,
Health Care Administration focus
Professional
Certifications
Certified Internal Auditor (CIA), Certified Fraud
Examiner (CFE), Certified Government
Financial Manager (CGFM),
Certified Inspector General
(CIG)
Certified Public Accountant
(CPA)Alabama and
Florida
Certified Public Accountant
(CPA)Florida
StandardsStandards
• Institute of Internal Auditors• International Standards for
Professional Practice of Internal Auditing
• Code of Ethics
• Government Auditing Standards• Yellow Book
• Generally Accepted Accounting Principles (GAAP)
Internal Auditors External Auditors
UWF Employee Independent contractor
Serves needs of UWF Serves third parties, who need reliable financial information
Focuses on FUTURE events by evaluating controls designed to assure accomplishment of UWF goals and objectives
Focuses on accuracy and understandability of HISTORICAL events as expressed in the financial statements
Is DIRECTLY concerned with prevention of fraud in any form
Respond to fraud or suspected fraud identified in audit; concerned if materially affect financial statements
Risk focuses on strategic, financial, compliance, operational, and reputational issues
Risk focuses on financial statements
Independent of activities audited, but ready to respond to needs/desires of all UWF management
Independent of management and board of directors, both in fact and mental attitude
Reviews activities CONTINUALLY Reviews records/financial statements PERIODICALLY, usually once a year
External Audits PerformedAuditor General
•Financial Statement•Federal Funds •Bright Futures•SACS Special Purpose Financial Statement (every
10 years)
Federal •Florida Small Business Network
CPA firms•WUWF-FM•Intercollegiate Athletics Financial Statement•Direct Support Organizations/Affiliated
Organizations•Business Enterprises, Inc.•UWF Foundation•West Florida Historic Preservation, Inc.•Florida Institute for Human & Machine Cognition
RiskRISK FACTORS• Executive Management
Interest • Internal Controls System• Fraud Likelihood and
Impact• Changes in
Personnel/Procedures• Prior Audit Findings• Time Since Last Audit• Dollar Volume Exposure• Interdependence• Public Disclosure
Implications• External Audit CoverageAugust 22, 2012 Presentation to UWF
BOT
TYPES OF RISK• Strategic • Financial• Operational• Compliance• Reputational
Example of Internal Audit Areas(Work Plan 2012/13)
August 22, 2012 Presentation to UWF BOT
Audits• Attractive Assets (<$5,000)• Differential Tuition• IT General Application
Controls (Banner)• PCard Audits (department
level) • Post Office• Reservations: Conferences &
Camp Services• SEVIS (Student/Exchange
Visitor Program)• Study Abroad Program
Audits completed August 2012
(last year items being finished)• Recreation & Sports Services• Health, Leisure & Sports
Facility Operations• Aquatic Center Operations• Major Construction
Management Advisory Services
• Evaluation of Policies, Rules, Procedures and changes
• Risk & Compliance Council• Banner Student Implementation –
team members • Facilitator for Workgroups and
Departments
Questions & Comments?