Specifications include, but are not limited to: • Provide an opinion as to whether the department conforms to the International Standards for the Professional Practice of Internal Audit as published by the Institute of Internal Auditors (IIA). • Assess the efficiency and effectiveness of the internal audit function based on standards and benchmark information. • Review the University of Louisville audit universe and the annual risk assessment methodology used to develop the annual audit plan • Evaluate the Audit Services organizational structure, staffing, and internal audit approach. • Determine the perception of Audit Services through interviews and surveys with identified constituencies, including administration and governance. • Identify ways to enhance Audit Services policies and procedures. • The results of this review will be communicated in a written report.
