conduct audits of any state department, state agency, or private entity that is a recipient of state funding or state grants. The Office of Internal Audit is authorized, but not limited to, evaluating the efficiency of operations and internal controls, preventing and detecting fraud, waste, abuse, or mismanagement in the expenditure of public funds, whether federal, state, or local, that are related to any and all state programs and operations as well as the procurement of any goods, services, or construction, by public bodies. As deemed necessary or expedient by the Office of Internal Audit, audits may be made relative to the financial affairs or the economy and efficiency of management of each department, agency or public body.