1. Office of Internal Audit and Consulting Services at UT Tyler Budget Authority Training Fiscal Year 2015 Lou Ann Viergever, CPA, CIA, CRMA Executive Director

2. Mission of Internal Audit The mission of the UT Tyler Office of Audit and Consulting Services is to provide independent, objective assurance and consulting services designed to add value and improve operations.

3. Where Does Audit Fit in the Big Picture Independent Objective Add Value

4. Three Lines of Defense

5. First Line of Defense… What do you need to do? Strong Internal Controls: 1.Policies and Procedures Manuals… who is responsible for what and when? 2.Segregation of Duties… two sets of eyes! 3.Account Reconciliations… Are YOUR numbers really right? 4.Documentation Maintained 5.Password Protection

6. How Do We Decide What to Audit? Assist departments in identifying risks and controls and creating a risk footprint considering impact and probability Combine all risk footprints into one UT Tyler risk footprint Identify required audits Allocate hours to high risk areas as determined by the Institutional Audit Committee and UT System Reserve hours for training and consulting

7. Resources & More Information http://www.uttyler.edu/internalaudit/ Audit Charter and Committee Audit Reports and Annual Plans Staff Information More Links and Resources –UT System Policies –Budget Authority Resources –The Red Flags of Fraud –The Basics of Internal Control

8. Internal Audit Team Lou Ann Viergever Ext 5644 Lviergever@uttyler.eduLviergever@uttyler.edu Karen Chudej Ext 5934 Kchudej@uttyler.eduKchudej@uttyler.edu Lynn Harris Ext 5685 Lynnharris@uttyler.eduLynnharris@uttyler.edu

9. We really are here to help! We are a phone call, email or click away!