Office of Internal Audit Strategic Plan | Office of Internal Audit UNC-Chapel Hill

University of North Carolina at Chapel Hill

Office of Internal Audit

Strategic Plan

Vision Statement: To be recognized as a trusted and proactive partner in promoting a culture of accountability, transparency, and continuous improvement across the University of North Carolina at Chapel Hill.

Core Values: a. Integrity: Upholding the highest ethical standards, maintaining independence, and being objective in all our activities. b. Excellence: Commit to quality, continuous learning, and professional development to deliver services that exceed expectations. c. Collaboration: Working together with university stakeholders to foster open communication, build relationships, and achieve common goals. d. Innovation: Embracing technology, data analytics, and industry best practices to enhance the effectiveness and efficiency of audit processes.

Strategic Goals and Objectives:

Goal 1: Enhance the Effectiveness of Audit Processes

Objectives: a. Develop a risk-based audit plan that aligns with the university’s strategic goals and objectives. b. Emphasize the use of data analytics and technology to improve the efficiency and effectiveness of audit procedures. c. Foster a culture of innovation by exploring emerging trends and methodologies in the field of internal auditing. d. Enhance audit reporting to provide actionable recommendations and value-added insights to management.

Goal 2: Strengthen Collaboration and Communication

Objectives: a. Proactively engage with university stakeholders to understand their needs and priorities. b. Establish and maintain effective working relationships with management, faculty, and staff. c. Develop and deliver training programs and workshops to promote awareness of internal controls, risk management, and compliance. d. Remain active in IIA, ACUA, and UNCAA memberships to leverage resources, share information, and address organizational risks.

Goal 3: Foster a Culture of Accountability and Compliance

Objectives: a. Assess and monitor the effectiveness of internal controls and compliance with applicable laws, regulations, and university policies. b. Provide guidance and support to management in implementing and monitoring remediation plans for identified control deficiencies. c. Promote ethical behavior and integrity. d. Conduct proactive audits and reviews to identify potential fraud, waste, or abuse and recommend appropriate preventive measures. e. Stay updated with evolving regulatory requirements and incorporate them into audit planning and execution.

Goal 4: Professional Development and Talent Management

Objectives: a. Provide ongoing training and development opportunities to enhance the skills and knowledge of internal audit staff. b. Encourage staff participation in professional certification programs, conferences, and industry forums. c. Foster a diverse and inclusive work environment that attracts and retains top talent. d. Establish succession planning initiatives to ensure continuity and sustainability of the internal audit function.