Long Island University Internal
Auditing Department Charter

Responsibilities and Authority of Internal Auditing
The Internal Auditing department is assigned the responsibility for carrying out an internal auditing program as previously described. This responsibility includes coordinating internal auditing activities with the organization's external auditors and others so as to best achieve the auditing objectives and those of the organization.

In carrying out this mission, the Internal Auditing department is given access to all records, personnel, and physical properties relevant to the performance of audits. Any instances in which records, personnel, or physical properties relevant to an audit are not made available to the Internal Auditing department upon request will be reported to the President and the Audit Committee.

The Chief Internal Auditor, for administrative purposes, will report to the Vice President for Finance, and shall have direct access to the Audit Committee. The Chief Internal Auditor will submit annually to the University Officers and to the Audit Committee for their approval a three-year audit plan. The three-year audit plan will be based upon the annual risk analysis prepared by the Internal Auditing department.

The Internal Auditing department, upon completion of an audit, will discuss the audit findings with the member of management responsible for the area audited. A written report of the audit findings and the manager's response will be sent to the President, Vice President for Finance, and the Audit Committee within three weeks of the audit's completion. Follow-up procedures will vary depending on the severity of the audit findings, but will be within seven months at the latest.

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Internal Auditing Department Charter