We are the Internal Audit Service team working at the University of Reading!
Internal auditing is defined by our Chartered Institute of Internal Auditors as 'an independent, objective assurance and consulting activity designed to add value and improve an organisation's objectives. It helps an organisation accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes'.
A helpful and broader introduction to what Internal Audit is can be found here on the Institute's website.
Here at the University of Reading we are responsible for providing the Council, the Vice-Chancellor and other senior managers with reasonable assurance on the adequacy and effectiveness of risk management, control and governance arrangements.
The University's Financial Memorandum with the Higher Education Funding Council for England requires that it has an effective internal audit function whose duties and responsibilities are in accordance with advice set out in HEFCE's Model Financial Memorandum 2016 which can be found at HEFCE financial memorandum
The roles of the Internal Audit Service and the Audit Committee are identified in the HEFCE model terms of reference which have been adapted for use by the University of Reading. The terms of reference for the Audit Committee can be found at Audit Committee Terms of Reference and for Internal Audit Services at IAS Terms of Reference Nov 2015.
In order to deliver this we have developed an Audit Strategy determining the approach outlining the approach we take which is reviewed and approved by the Audit Committee periodically.
Contact details for individual members of the Internal Audit Services can be found in the Staff list.