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University Policy 3002

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Handbook and paperwork for the newly hired.

Old Dominion University

University Policy

3002 Authority of the University Audit Department

Responsible Oversight Executive: Vice President for Administration and Finance
Date of Current Revision or Creation: October 1, 2020
  1. Purpose

    The purpose of this policy is to establish the authority of the Old Dominion University Audit Department at Old Dominion University as a means to fulfill its mission to the University.

  2. Authority

    Code of Virginia Section 23.1-1301, as amended, grants authority to the Board of Visitors to make rules and policies concerning the institution. Section 6.01(a)(6) of the Board of Visitors Bylaws grants authority to the President to implement the policies and procedures of the Board relating to University operations. Section 7.01 of the Board of Visitors Bylaws grants specific authority to the Chief Audit Executive.

    Board of Visitors Policy 1610 - Charter of the Internal Audit Department

  3. Definitions

    N/A

  4. Scope

    This policy applies to all employees, students, volunteers, employees of affiliated organizations who are paid through the University, and visitors to the institution. Employees include all staff, administrators, faculty, full- or part-time, and classified or non-classified persons who are paid by the University. Students include all persons admitted to the University who have not completed a program of study for which they were enrolled; student status continues whether or not the University's programs are in session. Affiliated organizations are separate entities that exist for the benefit of the University through an operating agreement and include the Foundations, the Community Development Corporation, and the Alumni Association. Visitors include vendors and their employees, parents of students, volunteers, guests, uninvited guests and all other persons located on property, owned, leased, or otherwise controlled by the University.

  5. Policy Statement

    The University Audit Department was established to assist the Board of Visitors and management of Old Dominion University. As appropriate to accomplish this mission, the University Audit Department will have a dual focus: (1) to provide an independent and objective appraisal of the University's financial, operational and information systems, and to evaluate the internal control environment; and (2) to work with management in a proactive and creative manner to ensure the development and provision of services and processes in the most efficient and effective manner.

    To the extent permitted by law, the University Audit Department shall have timely and unrestricted access to all University activities, properties, personnel, and records that are relevant to fulfillment of the department's mission to the University.

    It is understood that certain sensitive and/or restricted items of the University necessitate special arrangements to be made by the University Audit Department when examining and reporting upon such items; however, no legitimate sources of information are to be closed to the University Audit Department.

    The University Audit Department is to be independent in the conduct of its mission. As such, it shall be free from control or undue influence:

    • in the selection and application of audit techniques, procedures, and programs;
    • in the determination of facts revealed by the examination or in the development of recommendations or opinions as a result of the examination,
    • in the selection of areas, activities, personal relationships, and managerial policies to be examined.
  6. Procedures

    Individuals in receipt of inquiries from members of the University Audit Department shall respond to requests and inquiries within requested or reasonable time frames and assist the University Audit Department as needed in conducting audits, reviews or investigations.

  7. Records Retention

    Applicable records must be retained for three years following the end of the fiscal year in which the records were closed and then destroyed in accordance with the Commonwealth's Records Retention Schedule (General Schedule Series 102, Series 012086).

  8. Responsible Officer

    Chief Audit Executive

  9. Related Information

    University Policy 3003 - Detection, Investigation and Reporting of Fraud Waste and Abuse

    University Policy 3004 - University Audit Response Procedures

    Where to go with issues or concerns:

Policy History


Policy Formulation Committee (PFC) & Responsible Officer Approval to Proceed:

/s/
Responsible Officer

Date

Policy Review Committee (PRC) Approval to Proceed:

/s/ Donna W. Meeks
Chair, Policy Review Committee (PRC)
January 28, 2020
Date

Executive Policy Review Committee (EPRC) Approval to Proceed:

/s/ Gregory E. DuBois
Responsible Oversight Executive
October 1, 2020
Date

University Counsel Approval to Proceed:

/s/
University Counsel

Date

Presidential Approval:

/s/ John R. Broderick
President
October 1, 2020
Date

Previous Revisions

December 1, 1988; September 30, 2009; December 24, 2014; October 1, 2020

Scheduled Review Date

October 1, 2025