The Internal Audit Department of FCCU is an independent assurance and consulting function. The Internal Audit Department provides the University governing body, key executives, and their staff with an independent and objective evaluation of the effectiveness, efficiency, and application of accounting, financial, and other internal controls necessary to accomplish university objectives in compliance with established policies, procedures, regulatory requirements, and sound business practices. The Office conducts ongoing reviews based on a comprehensive audit plan using a risk-based assessment process. Internal Audit staff is trained professionals with professional accountancy degrees such as CA, ACCAs, etc.
The Office’s staff is dedicated to fulfilling the mission of FCCU. The Office assists the management in establishing and maintaining policy and procedures that; adequately protect the assets of the University, encourage their efficient utilization, improve the effectiveness of risk management and ensure compliance with relevant government and University rules and regulations.
The Internal Audit Department encompasses the examination and evaluation of the adequacy and effectiveness of the University’s governance, risk management process, a system of internal control structure, and the quality of performance in carrying out assigned responsibilities to achieve the organization’s stated goals and objectives.
The Office’s responsibilities include:
- Reviewing the reliability and integrity of financial and operating information and the means used to identify measure, classify, and report such information.
- Reviewing the systems established to ensure compliance with those policies, plans, procedures, laws, and regulations which could have a significant impact on operations and reports.
- Reviewing the means of safeguarding assets and, as appropriate, verifying the existence of such assets. Monitoring and evaluating the effectiveness of the organization’s risk management system.
Jamshaid Akhtar – ACA
CHIEF INTERNAL AUDITOR
Aroon Nabeel Bhatti
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