• WFISD Wichita Falls Independent School District

    Internal Audit Charter

     

    Function 

     
    Internal auditing is an independent, objective assurance and consulting activity established within the district, designed to add value and improve an organization’s operations. It helps an organization accomplish its goals and objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.  All internal audit endeavors are to be conducted in compliance with district objectives and policies as well as the Code of Ethics and the Standards for the Professional Practice of Internal Auditing Government Auditing Standards, which are promulgated by The Institute of Internal Auditing.
     
    Objective

    Internal auditing is dedicated to assisting management of the district in the effective discharge of their responsibilities.  To this end it furnishes them with analyses, appraisals, recommendations, counsel and information concerning the activities reviewed. The audit objective includes promoting effective control at a reasonable cost.

    Scope

    Internal auditing encompasses the examination and evaluation of the adequacy and effectiveness of the District’s system of internal controls and the quality of performance in carrying out assigned responsibilities.  The scope of the internal audit function includes review of management responsibilities for:

    • Due care in protecting District’s physical and information assets,
    • Assurances that information is reliable and relevant,
    • Assurances that policies, procedures, laws and regulations are being followed,
    • Assurances that goals and objectives of programs are being met, and
    • Assurances that resources are being efficiently and economically used.

    Independence

    The internal auditor should be independent of the activities audited.  Independence permits the auditor to render the impartial and unbiased judgments essential to the proper conduct of audits.  Independence is achieved through organizational status and the auditor's mental attitude in performing assigned audits.  In order to retain the highest degree of independence and objectivity, internal audit has a reporting responsibility to the Board of Trustees.

    Professional Proficiency

    Internal audit activities should be performed with proficiency and due professional care.  Audit personnel are responsible for cooperating in continuing their education in order to maintain proficiency and technical competence.  The auditor should be kept informed of improvements and current developments in internal auditing standards, procedures, and techniques and should be provided continuing education through membership and participation in professional societies; attendance at conference and seminars; and participation in self-study programs.

    Due Professional Care

    The auditor should use reasonable audit skill and judgment and exercise due professional care in performing every audit.  The internal auditor is required to conduct examinations and verifications of the activity under audit to a reasonable extent, but is not required to perform detail audits of all transactions.  Accordingly, the internal auditor cannot give absolute assurance that noncompliance or irregularities do not exist.  Nevertheless, the possibility of material irregularities or noncompliance should be considered whenever the internal auditor undertakes an auditing assignment.

    Management Responsibility

    It is the responsibility of the department manager or campus administrator to make available to the auditor all financial records, documentation, and access to key individuals that are related to the audit being conducted.  The auditor cannot be expected to be completely knowledgeable about all activities, systems, procedures, and programs within the organization.  The auditor cannot be expected to search all files in the auditee's office or to master all procedures in a limited time without full cooperation of the department or area under review.  

    Responsibility

    Internal auditing functions under policies established by the Superintendent and the Board of Trustees. The function reports to the Board of Trustees, has direct access to the Superintendent, and meets periodically with the Audit Committee. These reporting relationships ensure departmental independence, promote comprehensive audit coverage and assure adequate consideration of audit recommendations. 

    Authority                                                                                                                    

    Internal auditing is a staff function with no authority over the people and activities being audited.  The performance for these reviews does not relieve management of any assigned responsibilities.  Internal auditors shall not develop and install procedures, prepare accounting records or engage in any activity which it would normally review and appraise, or otherwise compromise its objectivity and independence. This independence from operating responsibilities promotes objectivity. 

    Personnel of the audit department, in the performance of audits and with stringent accountabilities of safekeeping and confidentiality, will be granted unlimited accessibility to all district activities, records, property and employees.