Management and the Board of Governors have established an Internal Audit
Department to provide an independent appraisal process to assist both
management and the Board, through the Audit Committee. The Audit Committee is
a standing committee of the Board of Governors with oversight
responsibilities for financial and audit matters of the University.
The principal objective of Internal Audit is to assess whether the controls,
processes, and procedures implemented by management are enabling governance
and stewardship responsibilities: of each to be met.
The mission statement is set in broad terms to enable the University's senior
management and the Audit Committee to vary the specific annual mandate, as
necessary, from one year to the next to reflect changing circumstances and
needs. The annual mandate is established through the annual report of the
Internal Audit Department to the Audit Committee, in May of every year.