Scope of Work
An overview of Internal Audit Office engagements along with some auditing case studies can be found at the Presentation: EUI IAO and Auditing basics.
In order to fulfil its mission, the Internal Audit Office must determine whether the Institute’s network of risk management, internal controls and governance processes are properly designed and whether:
- Financial and operational information is accurate, reliable, and timely
- Operations and programmes are carried out in effective and efficient manner
- Organisational objectives are achieved
- Assets are safeguarded
- Risks are appropriately identified and managed
- Laws, regulations, policies, procedures and contracts are properly complied with.
The Office also prepares the audit certificates for projects financed by the European Commission and the European Research Council under the respective frameworks for financing research.
Furthermore, IAO maintains contacts with the external auditors throughout the year, and provides them with assistance during their visits to the Institute.
In addition to the assurance services, IAO provides consulting services that are advisory in nature and are generally performed upon a specific request. This could entail assisting with the formulation and evaluation of an internal policy, as well as the assessment of project plans intended to optimise operation. Requests for consulting opinion could be submitted directly to the Internal Audit Office or through the reporting form under Compliance Questions or Concerns Tool.
When performing consulting services, the IAO maintains its objectivity and does not assume management responsibility. It has no executive role and is not responsible for the development and implementation of controls within the internal control system.
According to the President’s Decision 36/2016, IAO has a general consultative role in the context of Public Procurement Regulation. In particular, the Internal Auditor shall provide her advice before any public procurement is launched by the EUI. The following tools are presented in support of EUI Services procurement engagements, before launching a call for tenders as well as before the award of a contract, respectively:
- IAO Advisory on Procurement - Checklist before Launching a Call for Tenders
- IAO Advisory on Procurement - Questionnaire before awarding a contract
- IAO Advisory on Procurement - Memo of 2015 procurement issues discussed