Strategic Examine Plan

 Strategic Taxation Plan Article

INDEX

1 ) Role of Internal Audit1

2 . Advantages and Purpose of this Strategy1

3. Acknowledgements1

4. Examine Approach2

five. Audit Doing work Procedures and Practices3

The Audit Toolbox3

Audit Reporting5

6. Inner Audit Assistance in UWCN Risk Management5

7. Fee-Earning Work5

eight. Links To Institute of Internal Auditors (IIA) and Other Bodies6 9. Staffing6

twelve. Operational Program 2001/027

10. Strategic Strategy 2002/0510

doze. Annex A В– Key Risks21

13. Annex N - Taxation Universe29

18. Annex C В– Evaluation of Systems and Risk35

1 . Position of Inside Audit

1 ) 1 . Interior Audit (IAS) is persistent and target appraisal support within the University or college College. 1 ) 2 . Inner audit's main role is to provide an thoughts and opinions to the Main and Chief Executive, and to the Board of Governors via the Audit Panel, on risikomanagement, control and governance, simply by measuring and evaluating the potency of these settings and systems in achieving UWCN's arranged objectives. 1 . 3. Additionally , internal review provides confidence to supervision on devices that they are in charge of and help management in making improvements to these systems. 1 ) 4. Risikomanagement, control and governance include the policies, procedures and operations proven to ensure: В•the achievement of objectives;

В•the appropriate evaluation of risk;

В•the dependability of external and internal reporting and accountability operations; В•compliance with applicable laws and regulations; and

В•compliance with the behavioural and honest standards arranged for the organisation. 1 . 5. Inside audit as well provides an self-employed and goal consultancy support specifically to support line supervision improve the organisation's risk management, control and governance. Such consultancy work plays a part in the opinion which inside audit provides on risk management, control and governance. 1 . 6. Establishment and repair of the system of internal control remains the obligation of administration under the oversight of the Board of Governors. 2 . Launch and Aim of this Strategy

installment payments on your 1 . Interior Audit have to provide a services that complies with the Requirements set out in the Government Inside Audit Manual (GIAM), the Higher Education Money Council intended for Wales (HEFCW) Audit Code of Practice and the Standards, Guidelines and Code of Ethics of the Institute of Internal Auditors (IIA). 2 . 1 . This kind of document aims Internal Audit's proposed strategy for the delivery of confidence to the Principal and Taxation Committee within the framework of control within UWCN pertaining to the period 2002 to june 2006.

several. Acknowledgements

a few. 1 . We wish to express our thanks to the staff in UWCN for their support and co-operation in the planning of this file.

4. Review Approach

Risk Analysis

four. 1 . Risk identification and assessment belongs to management. That they, not interior audit, will be accountable for our economy, efficiency and effectiveness of risk management, control and governance. It is therefore necessary that the review strategy is founded on management's risk priorities. During 2001-02 UWCN, with the assistance of Internal Audit, has revised it is approach to risk management. This approach delivers UWCN which has a structured method to identify, assess and take care of risks to the achievement with their objectives. some. 2 . Inner Audit will certainly seek to rely on management's causing risk evaluation and analysis to form the foundation for this and future ideas. In this way IAS will be able to present assurance to management on the key dangers facing UWCN as well as aid in reducing these risks through its recommendations. 4. a few. As well as employing UWCN's risk assessment as the basis for its planning, IAS will carry out additional job to inform the approach. We will take account of earlier assessments of systems and processes in UWCN, the amount of time since particular systems have recently been reviewed, the knowledge of the strengths, disadvantages, opportunities and threats...