1. Internal Auditing & Management Consulting Overview BOT On-Campus Orientation August 29, 2011 Presentation to UWF BOT

2. Reporting Authority August 29, 2011 Presentation to UWF BOT President Associate Vice President Internal Auditor III Student Employee Internal Auditor UWF Board of Trustees Finance, Administration and Audit Committee Note: One position (.75 FTE auditor) was lost in 2011/12 for budget cuts

3. August 29, 2011 Presentation to UWF BOT NameBetsy Bowers Cindy Bookout Greg HaleAmy Bueno Title Associate Vice President Internal Auditor III Internal AuditorStudent Worker Years in Internal Auditing 277 1.5 (internship @ Escambia County School District) 8 months Years with UWF 18 years10 months7 months8 months Years Audit Experience 2992 8 months Educational Degrees, Institution, and Major MBA and BA (Acct) East Tennessee State University BS Accounting University of South Alabama MAcc and BSBA (Acct Information Systems) University of West Florida Working toward BSBA General Business, Management Minor 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

4. Standards Institute of Internal Auditors International Standards for Professional Practice of Internal Auditing Institute of Internal Auditors Code of Ethics Government Auditing Standards (Yellow Book) Generally Accepted Accounting Principles (GAAP) August 29, 2011 Presentation to UWF BOT

5. Internal Auditors vs. External Auditors August 29, 2011 Presentation to UWF BOT InternalExternal UWF EmployeeIndependent contractor Serves needs of UWF Serves 3 rd 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 INCIDENTALLY concerned with fraud, but DIRECTLY concerned if materially affect 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

6. External Audits Performed Auditor 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  UWF Foundation  West Florida Historic Preservation, Inc.  Florida Institute for Human & Machine Cognition August 29, 2011 Presentation to UWF BOT

7. RISK 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 Coverage August 29, 2011 Presentation to UWF BOT RISK TYPES OF RISK Strategic Financial Operational Compliance Reputational

8. Example of Internal Audit Areas (Work Plan 2011/12) Audits Aquatic Center Aquatic Center Construction Construction Educational Research Center for Child Development (ERCCD) Educational Research Center for Child Development (ERCCD) Institutes and Centers (in process) Institutes and Centers (in process) PCard Audits (department level) PCard Audits (department level) Recreation Recreation Revenue Generating Contracts (in process) Revenue Generating Contracts (in process) Telecommunications Telecommunications Testing Center Testing Center Voyager Student Center Voyager Student Center Management Advisory Services Evaluation of Policies, Rules, Procedures and changes Evaluation of Policies, Rules, Procedures and changes Risk & Compliance Council Risk & Compliance Council Banner Student Implementation – team members Banner Student Implementation – team members Facilitator for Workgroups and Departments Facilitator for Workgroups and Departments August 29, 2011 Presentation to UWF BOT

9. Questions & Comments? August 29, 2011 Presentation to UWF BOT