Working with Our Members

 

Background

For each of our Member institutions, we take great care to raise the profile of Internal Audit in a positive way so that all institutional staff involved in the audit process understand the principles of Internal Audit and the benefits from a well conducted audit to them as individuals and to the institution as a whole. We maintain a wide range of literature that we circulate to our Member institutions regarding Internal Audit via our intranet sites, our own printed publications, Member institutions’ Newsletters and other means.

 

Role and Remit

Internal Audit, as defined by the Institute of Internal Auditors (IIA), is "an independent, objective assurance and consulting activity designed to add value and improve an organisation's operations. It helps an organisation accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes."

 

The primary responsibility of the KGC Consortium is to provide the governing body (through the Audit Committee), the Vice-Chancellor, and other senior staff, with independent assurance and an opinion on the adequacy and effectiveness of the internal controls that have been adopted to manage risks across the institution.

 

Whilst remaining independent and objective, Internal Audit takes a proactive, forward looking and risk based focus across all institutional activity. This approach enables us to:

 

• Provide assistance and advice in the assessment and management of institutional strategic and operational risks.

• Identify new ways of working, process improvement opportunities, cost savings and VfM opportunities.

• Provide advice on enhancements to governance, management and control arrangements.

• Act as a catalyst for institutional change (culture, structure etc) and seek opportunities to enhance the delivery of corporate objectives.