The Internal Audit and Control Department is one of the vital oversight functions used by Stardom University to monitor its operations and activities. It ensures compliance with the university’s instructions, policies, and systems and oversees employee performance to confirm that duties are carried out per established policies and procedures. This helps protect the university’s assets and property more effectively and achieve its intended goals. It serves as a consulting entity for the university, evaluating the effectiveness of internal controls and performance systems and making recommendations to senior management and the university’s advisory council. After following all procedural steps, these recommendations are considered for appropriate action.
Additionally, its mission involves monitoring and assessing risks that impact the achievement of the university’s objectives, continuously working to mitigate these risks in collaboration with internal university departments and external regulatory bodies. The Internal Control and Audit Management at Stardom University is an independent and objective department that provides assurance and consulting services to all university entities. Its goal is to add value to its activities and improve processes to achieve its objectives with high efficiency and effectiveness. This is accomplished systematically to evaluate the effectiveness of governance processes, risk management, and controls.
Vision:
The Internal Control and Audit Management aims to elevate the university’s oversight function by ensuring that its programs and activities add value, achieve its objectives, and create an automated environment.
Mission:
To work alongside the university administration to achieve its strategic goals, improve and develop performance within the university, and add value to all its departments. This is achieved by strengthening the internal control system overall activities and daily operations and creating an effective self-regulating environment.
Objectives:
Oversee the accuracy of financial data and accounting records and issue reliable and precise financial reports.
Monitor the effectiveness of administrative processes and evaluate their adequacy in carrying out university tasks. Ensure compliance with mandatory regulations, instructions, and policies, with the goal of optimally utilizing available resources.
Ensure adherence to required regulations and instructions for the entity.
Verify the integrity and effectiveness of internal control systems.
Protect funds and assets and reduce the occurrence of fraud and errors.
Manage the significant risks facing the university.
Implement a comprehensive and effective governance framework.
Tasks:
Review documents related to expenses and revenues after completion to ensure accuracy and regulation compliance.
Examine accounting records to ensure the correctness and orderliness of entries, proper accounting direction, and review of books, records, and documents to verify compliance with established rules and procedures.
Monitor the university’s and its departments’ workflow to ensure adherence to systems, regulations, policies, and financial and administrative procedures and assess their adequacy and suitability.
Investigate complaints referred to the department regarding administrative, financial, and other violations according to the department’s authority.
Conduct oversight and auditing across various university units and their affiliates.
Identify areas of misuse of university resources and recommend necessary measures to address and prevent them in the future.
Promote the concept of self-regulation among university employees.
Coordinate with external entities, manage media coverage of university events and ceremonies, prepare university facilities for occasions, and handle internal communication tasks.
