D.05 Internal Audit - March 2009 Revision

The Board of Education considers the internal audit function to be a critical ingredient in providing comprehensive evaluation of the level of control in the District's operating and accounting systems.

The internal auditor(s) will exercise independence in carrying out responsibilities outlined in this policy.

The Superintendent or the Superintendent's designee, and two (2) representatives from the community at large, selected by the Audit Committee and approved by the Board, will join the Board members serving as a committee of the whole on the Board Audit Committee in advising the District's internal auditor and receiving internal audit reports. One of the members appointed from the community at large must be a Certified Public Accountant. The Superintendent or the Superintendent’s designee will serve as a non-voting member of the Audit Committee.

The internal auditor will independently review, evaluate, and report through audits and management studies the status of the following in the District's schools, departments, and programs: financial condition; accuracy of financial and property record keeping; compliance with applicable laws, policies, guidelines, and procedures; and effectiveness and economy of operations.

The Internal Audit Committee may meet in Executive or closed session in accordance with the provisions of the Open Meetings Act.

Board Policy Cross Ref.: B.07 Board Committees Procedural Directive

Cross Ref.:

• Annual District Audit
• Internal Audit

NSBA/NEPN Classification: DIE

Approved: September 19, 1990
Revised: February 20, 1996
Reviewed: August 26, 2008
Revised: September 3, 2008
Reviewed: January 27, 2009
Reviewed: February 24, 2009
Revised: March 4, 2009