Scope of Audits

 

To accomplish our mission, we evaluate the adequacy and test the effectiveness of   internal controls.  Internal controls are the methods or procedures used by an organization to:

• Ensure reliability and integrity of information;
• Ensure compliance with policies, laws, regulations, etc.;
• Safeguard assets;
• Promote economical and efficient use of resources; and
• Accomplish goals and objectives.

 

Compliance Issues

 

Compliance issues referred to above include JMU, State, Federal, and other external requirements.  Some of these are:

 

JMU

•  University Policy Manual

•  JMU Financial Procedures Manual

 

Commonwealthof Virginia

•  Commonwealth Accounting Polices and Procedures (CAPP) Manual

•  Agency Procurement Manual

•  Capital Outlay Manual (issued by the Department of General Services)

•  Appropriation Act

•  Council on Information Management (CIM) Standards

•  Code of Virginia

•  State Council of Higher Education in Virginia (SCHEV) Guidelines 

Federal

•  Federal Register (requirements related to financial aid - e.g., StaffordLoan, Work Study, Perkins Loan, Pell Grant programs)

•  Family Educational Rights Privacy Act

Other External Requirements

•  NCAA Regulations

 

University Policy on Internal Auditing

The mission and scope are also included in University Policy 1601, entitled "Auditing Program".

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