Internal auditing is an independent, objective assurance and advisory activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
The Mission of Internal Audit is to enhance and protect organizational value by providing risk-based and objective assurance, advice, and insight.
The Office of Internal Audit staff are members of the
Institute of Internal Auditors (IIA).
Established in 1941, the (IIA) is an international professional association with global headquarters in Altamonte Springs, Fla., USA. The IIA is the internal audit profession's global voice, recognized authority, acknowledged leader, chief advocate, and principal educator. Members work in internal auditing, risk management, governance, internal control, information technology audit, education, and security.
The International Standards for the practice of internal auditing (Standards) and the Code of Ethics of the IIA govern the manner in which internal auditing is conducted. The Internal Audit Office of AUB helped to establish and continues to be associated with and the Lebanese Chapter of the IIA. Internal audit staff are encouraged to obtain the professional designation of Certified Internal Auditor (CIA) which consists of a three part examination administered by the IIA. Internal Audit is part of the University's assurance mechanism. Internal Audit is responsible for verifying that internal controls, the checks and balances in the system, are in place and are effective.
Internal Audit is not responsible for the design or implementation of internal controls: that is the responsibility of management. However, Internal Audit can, and will, provide advice on such controls. Internal Audit is not the University's "Police Force" or "Fraud Squad". Responsibility for internal controls and the detection of irregularities rests with each department head. However, Internal Audit can, and will, assist in the investigation of known or alleged irregularities. It is a policy of the University that any case of fraudulent activity must be reported to the Internal Audit Office in accordance with the University Fraud Policy.
The principal types of work undertaken by the Internal Audit Office are: