Audit Services

The mission of Audit Services is to contribute to the ongoing effectiveness of KCTCS in its missions of education and training. Audit Services contributes to KCTCS's missions by providing Senior Management with an independent appraisal of the internal controls of KCTCS. Internal controls are a system of processes, effected by people, which are designed to provide reasonable assurance regarding achievement of the following three objectives:

1. Effectiveness and efficiency of operations
2. Reliability of financial data and reports
3. Compliance with applicable laws and regulations.

Audit Services objectives in accomplishing its mission include the following:

• Determine the accuracy and propriety of financial transactions
• Evaluate policies, procedures and systems to ensure reliability and integrity of information
• Evaluate financial and operational procedures for adequacy of internal controls and provide advice and guidance on control aspects of new policies, systems, processes and procedures
• Verify the existence of assets and ensure that proper safeguards are maintained to protect them from loss
• Determine the level of compliance with policies and procedures
• Evaluate the accuracy and effectiveness of electronic information and processing systems
• Determine the effectiveness and efficiency of organizations in accomplishing their mission and identify operational opportunities for cost savings and revenue enhancements
• Provide assistance as needed to the external auditors engaged by KCTCS during the course of their annual audit
• Investigate fiscal misconduct and report findings to Senior Management

• Audit Services has the authority and responsibility to audit all aspects of KCTCS. As such, Audit Services shall have full and complete access to any of the organization's records, technology, physical properties, and personnel relevant to the performance of the audit. Documents and information given to internal auditors during a periodic review will be handled in a confidential and responsible manner.
• Since objectivity is essential to the audit function, Audit Services will not engage in any activity that would appear to impair their independence. They should not develop and install procedures, prepare records, or engage in activities that would normally be reviewed during the performance of their examination.
• Senior Management is responsible for establishing internal controls for KCTCS. The existence of Audit Services does not in any way relieve KCTCS personnel of the responsibilities assigned to them to establish internal controls and efficient operations in their respective business units.

In most cases, a written report will be prepared and issued by Audit Services following the conclusion of each audit. Normally, a draft copy of the report will be reviewed with the college or department head affected. The college or department head receiving the final copy of the report will respond, in writing, to the audit recommendations or concerns on a timely basis. The response will indicate what actions were taken regarding specific report findings and recommendations.

Distribution of final reports will include the Vice President of Legal Services, Vice President, Administrative Services, the Chancellor, the Assistant Vice President of Business Services/ Chief Operating Officer and other members of Senior Management deemed necessary.

The college or department head receiving the final audit report is responsible for ensuring that progress is made toward correcting any unsatisfactory conditions. Audit Services is responsible for determining whether the action taken is adequate to resolve audit findings. If the action is not adequate, Audit Services will inform KCTCS management of the potential risk and exposure in allowing the unsatisfactory conditions to continue.

In all of its activities, Audit Services will adhere to the Standards for the Professional Practice of Internal Auditing and the Code of Ethics adopted by the Institute of Internal Auditors.