Internal Audit serves Georgetown University by assessing whether an appropriate system of controls is in place to manage risks. Our approach is collaborative and forward-looking. We work to support the University in its mission, and our goal is to help departments achieve their objectives and make informed decisions through proactive risk management.
Areas in which Internal Audit considers risks and controls include:
- Business processes
- Financial reporting
- Information systems
- Risk and compliance management
- Organizational roles and responsibilities
Our approach includes four areas of focus:
- An annual risk assessment in which we work with management to incorporate the University’s objectives, challenges, and risks into an annual audit plan that is intended to address the University’s most significant risks and that consists of audits of specific business functions and transactions
- Special reviews or investigations performed in response to Audit Committee or management requests
- Ongoing collaboration and training with stakeholders such as the Office of Compliance and Ethics, and compliance functions across the University
- Reviews of significant projects and initiatives that occur as the University, its objectives, and its activities evolve throughout the audit year
Internal Audit is accountable to the Audit Committee of the University’s Board of Directors and reports administratively to the Senior Vice President and Chief Operating Officer.
Frank Maggio is the University’s Chief Audit Executive. Resources for the Internal Audit function are co-sourced with Baker Tilly. Baker Tilly provides on demand staffing and specialized skills to assist with risk management and audit projects, or requests to provide advice regarding controls, policies, or processes.
If you have any questions or would like to seek Internal Audit advice or assistance, please contact Frank at (202) 687-2271 or at firstname.lastname@example.org. We are here to help!