Internal Audit

The Internal Audit function of the University, established in 2001, operates as an independent appraisal function which forms an integral part of the University's internal control framework.

Internal Audit reports sits within the portfolio of the University Secretary and Director of the Vice-Chancellor and President's Division and is accountable to the Audit, Risk and Compliance Committee. Operationally it forms part of the Chancellery to reflect the independence of the function from University management.

Purpose

The purpose of the Internal Audit function is to assist the University Council, the University Audit Committee, and all members of University management in the effective discharge of their responsibilities through a process of systematic and independent audits. Internal audit is an independent, objective, assurance and consulting unit which aims to add value and improve the University's operations by applying a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

Internal Audit Charter

The Internal Audit function operates under a detailed Charter document. This is a legislative requirement under the Financial and Performance Management Standard 2009 (Qld).

The Internal Audit Charter is the principal instrument by which the University establishes the purpose, objectives, scope, responsibilities, and independence of the Internal Audit function as it applies at CQUniversity.

CQUniversity Audit, Compliance and Risk Committee

The Internal Audit function reports to the Audit, Compliance and Risk Committee, which is a committee of the University Council. The Committee meets on a regular basis (not less than four times per year).

The Committee operates under the following Terms of Reference. The Committee determines the Charter for the Internal Audit function at CQUniversity.

Professional Affiliations

• Australia/New Zealand University Internal Audit Group
• Queensland Tertiary Education Auditors Network