To provide the Board of Visitors, the President, and the management of the University of Mary Washington with objective and independent analysis of university operations and, where necessary, make recommendations for improving the reliability and integrity of information, compliance with laws, the safeguarding assets, and the effectiveness and efficiency of operations.
The Internal Audit Department was established in September 1989 with adoption of an Audit Charter. The first Director of Internal Audit was Majorie Poyck, who served as Assistant Vice President Audit and Management Analysis until June 1992. In August 1992, Helen Vanderland was hired as the Director of Internal Audit. Ms Vanderland served in the position until November 2007.
In November 2008, Tera Kovanes was hired based on the recommendation of the Executive Vice President and President. Ms. Kovanes is a Certified Public Accountant, Certified Internal Audit, Certified Information System Auditor and Certified Fraud Examiner with 16 years of auditing experience.
Based on a recommendation from the Director of Internal Audit, the Board of Visitors established an Audit Committee in February 2009. The Board of Visitors updated its bylaws and approved an Audit Committee to reflect that change.
The Director of Internal Audit reports directly to the Board of Visitors’ Audit Committee. This reporting relationship provides the best opportunity for audit activities to be independent and objective. The Internal Audit Department has a Board of Visitors approved audit charter that authorizes it unrestricted access to all activities, properties, personnel, and records of the University.
On an annual basis, the department presents the Audit Plan to the Audit Committee for approval. The fiscal year 2011-2012 plan is compromised of 59% compliance activity and 41% consulting/ management assistance which is in agreement with the Board of Visitors’ and the President’s current expectation.