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Internal Audit

Background

Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve the university’s operations. It helps universities accomplish their objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes (definition from the Institute of Internal Auditors UK and Ireland).

Per the Code of Governance for Irish Universities (September 2019), each university should have a properly constituted independent internal audit service or engage appropriate external expertise which should operate in accordance with the provisions set out below.

NUI Galway Internal Audit

The University of Galway Internal Audit Unit (IAU) is an independent internal function responsible for giving assurance to Údarás na hOllscoile through the Audit and Risk Committee on the adequacy of the arrangements for systems of internal control, results reporting, risk management, compliance, governance, and arrangements for securing economy, efficiency and effectiveness.

The objective of the Unit is to provide an independent, objective assurance and consulting activity designed to add value and improve the University’s operations. In this way we help the University accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. We furnish management with analysis, appraisals, recommendations and pertinent information concerning the activities reviewed. While remedying the issue identified, our recommendations also aim to increase value for the units various stakeholders - students, staff, the university and broader community.

As part of its agreed programme of work, the Internal Audit function will carry out reviews of all major academic and support units within the University covering financial and non-financial controls and compliance with laws, regulations and best practice.

Internal Audit Charter sets out the purpose, authority, responsibility and reporting relationships of the IAU in the University of Galway.