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Internal Audit Division

Welcome to the Internal Audit Division Web site. We are carried out an independent, appraisal function within the Eastern University, Sri Lanka, for the review of activities as a service to all levels of management. We measures, evaluates and reports on the effectiveness of internal controls, financial and other, as a contribution to the efficient use of resources within the organisation. Our objective assurance and consulting activity designed to add value and improve the organisation’s operations. We help an organisation accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes

Vision: 

Internal Audit Division is the University’s most valued resources for financial, operational, performance and control activities.

Mission: 

Internal Audit exists to support administration and the Council in the effective discharge of their responsibilities. Using our knowledge and professional judgment, we will provide an independent appraisal of the University's financial, operational, and control activities. We will report on the adequacy of internal controls, the accuracy and propriety of transactions, the extent to which assets are accounted for and safeguarded and the level of compliance with institutional policies and government laws and regulations. Additionally, we will provide analyses, recommendations, counsel and information concerning the activities reviewed.

Our Objectives:

  • Determine the accuracy and propriety of financial transactions;
  • Application of proper authorisations within the delegated authorities given by the various levels of management;

  • Evaluate financial and operational procedures for adequacy of internal controls and provide advice and guidance on control aspects of new policies, systems, processes and procedures;

  • Verify the existence of University assets and ensure that proper safeguards are maintained to protect them from loss;

  • Determine the level of compliance with University policies and procedures, state and federal laws and government regulations;

  • Evaluate the accuracy, effectiveness and efficiency of the University's electronic information and processing systems;

  • Determine the effectiveness and efficiency of organizations in accomplishing their mission and identify operational opportunities for cost savings and revenue enhancements;

  • Report on the reliability of accounting and other data developed within the organization and proper co-ordination between departments, branches, Sections and Units;

  • Provide assistance and a coordinated audit effort with the Auditor General of Sri Lanka and other external auditors;

  • Investigate fiscal misconduct; 

Values:

  • In carrying out our mission, we share certain beliefs and values.
  • Our primary focus is to provide excellent service to the University. Our examinations will be performed in accordance with applicable Auditing standards established by the Institute of Chartered Accountants of Sri Lanka, Financial Regulations, Finance Act No: 23 of 1971 other applicable Acts and Laws.
  • Our relationships with the University community will be characterized by respect, helpfulness, sharing, patience, and openness.
  • We are committed to maintaining our professionalism as internal auditors through continuance of our education and training.
  • Although we are a part of the University we are committed to maintaining our independence in defining the scope and objectives of our examinations.

 

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