Internal Audit (IA) is a key function of the Rector's Office that is mainly concerned with auditing, advice and control. It checks whether states or processes are dealt with correctly. In particular, it observes the requirements of legality, transparency, expediency, efficiency and economy, which are also mentioned in Section 15 of the Universities Act (UG) as key budgetary principles.
IA performs audits on the basis of the applicable provisions of the Internal Control System.
IA provides independent and objective auditing and consulting services aimed at creating added value and improving business processes. It supports the organisation in achieving its objectives by using a systematic and goal-oriented approach to assess the effectiveness of risk management, controls, management processes and monitoring processes and helps to improve them.
When carrying out audit assignments, IA staff act in accordance with the Code of Ethics and the International Standards for the Professional Practice of Internal Auditing issued by the Institute of Internal Auditing Austria (IIA Austria).
IA reports directly to the Rector and is independent of other organisational units.
IA performs its tasks in consultation with the Rector. It examines the legality, efficiency, expediency and transparency of internal processes in all areas of TU Wien on the basis of the actual situation. The purpose of the audit is to detect deviations from lawful procedures and weaknesses in the operation of processes and to provide impetus for their elimination and future avoidance. The activities of IA should be perceived as support by the parties involved. IA has the following tasks in particular:
- Verifying compliance with the principles of legality, efficiency, expediency, economy and transparency (according to Section 15 (2) UG)
- Ensuring compliance with legal requirements and other binding regulations and contractual obligations of TU Wien
- Analysing processes and formulating safeguarding and improvement proposals
- Conducting special and ad hoc audits
- Analysing, checking and assessing the effectiveness of risk management
- Examining the effectiveness and reliability of the Internal Control System (ICS) and information processes
- Random checking of accounting operations including checks on supporting documents
- Making recommendations and, where appropriate, giving advice on the implementation of recommendations
- Assessing the effectiveness and efficiency of controls
IA provides advisory services to TU Wien on the instruction of the Rector. These are carried out in the form of projects which seek to achieve goals previously defined between IA and the engaging party. These may not include management tasks or other operational activities not related to auditing. Auditing services and advisory services of IA must be clearly distinguished from each other.
IA supports the Rector in answering queries, especially those of the Court of Auditors.
In order to carry out its auditing and advisory activities, IA may, in accordance with the requirements of the annual audit plan, make use of expert and independent third parties in consultation with the Rector or at its own discretion.