Assurance services involve the internal auditor’s objective assessment of the evidence to provide independent views or conclusions regarding a process, system or matter. Typically, assurance services involve three parties, namely:
The owner of the process or system to be evaluated
The assessor which is the internal auditor
Individuals or groups who use the results of the assessment – users
Internal Auditing
The Internal Audit Division is responsible for conducting audits at all department in USIM including the following types of audits:
A Financial Management audit includes an examination of the structure, system of internal control and financial records to determine whether management controls, budgets, expenditure, revenue, assets and stores have been managed in accordance with relevant laws, regulations and directives.
.Operational audits include the evaluation of the activities of a PTJ and examining the use of resources in the PTJ to determine the goals of the activities have been achieved and the resources are used economically, efficiently and effectively. In addition, the title of the audit was selected based on the activities that had issues and problems raised by management. This audit focuses more on who, what, when, why and how in conducting efficient and effective operations than just the accounting and financial aspects.
ICT audits are conducted to further improve the quality of ICT management by ensuring internal controls and compliance with established regulations. In general, this audit will also evaluate the input system, output and control of support and recovery plan processing, system security as well as the selection of computer facilities.
Audit appearance was conducted to create awareness on compliance with current regulations in PTJ which is less frequently visited. This audit was conducted to provide views and advice on the existing system of internal control in the PTJ, further recommending improvements to the internal control.
An audit research is conducted on the activities/ programs/ projects/ processes to determine that the activities/ programs/ projects/ processes have been implemented efficiently, prudently and achieve the objectives/ goals that have been set.
A follow-up audit was conducted on the significant findings that were presented in the Audit Committee Meeting to ensure that appropriate action was taken by the PTJ. Follow-up audits will be conducted until all findings are completed and closed.
Special Audit is an audit activity covering the scope of financial and operational audits that aims to examine and resolve specific problems at USIM. It is carried out based on the task instructions received from the Vice Chancellor or the Audit Committee from time to time.