Internal Audit
Internal Audit provides independent objective assurance and consulting services for Madison College. It helps improve operations by bringing a systematic and disciplined approach to evaluate and improve the college's processes for:
- Governance: Evaluates policy structure, human resources policies, communication, compliance and resource allocation.
- Risk management: Identifies, assesses and manages strategic and operational risks across the college.
- Internal controls: Ensures risk across the college is minimized and contained.
For more information, contact the Internal Audit department at (608) 246-6092 or by email.
- Activities Charter
Activities
The Internal Audit department measures and evaluates the efficiency and effectiveness of other controls. It evaluates:
- Reliability and integrity of information and the means to identify, measure, classify and report this information.
- Systems that ensure compliance with federal and state laws and regulations, and Madison College policies.
- Means of verifying and safeguarding college assets.
Learn more about processes for auditing activities, types of audits and internal controls. (PDF, 20 pages)
Audit PlanCharter
The audit charter (PDF, 4 pages) is a formal document annually reviewed and approved by Madison College's president. This charter:
- Defines the scope of work for Internal Audit.
- Establishes the role of the Internal Audit office within Madison College.
- Allows the Internal Audit office access to records and data to perform audit activities.
Internal Audit follows all federal and state laws, Wisconsin Technical College System (WTCS) regulations and Madison Area Technical College policies. It also adheres to the code of ethics (PDF, 2 pages) that internal auditors are expected to apply and uphold.
Risk ManagementAudit Plan
The audit plan is an effective and economic tool that allows Internal Audit to effectively deploy its limited resources.
Planned audit engagements are those initially identified and assessed during the risk management process from which the internal audit plan derives.
Unplanned engagements are consulting engagements or engagements requested by management to address specific emerging risks and needs.
The plan also provides to evaluate the internal control systems of Madison College core business processes.
YouInformRisk Management
Risk management (PDF, 25 pages) enables managers to effectively deal with uncertainties, helps them understand risk in the context of Madison College's objectives and allows them to enhance the college's capacity to build value.
The process is designed to provide upwards assurance from business activities and administrative functions to management, and ultimately to the governing body that:
- Objectives are more likely to be achieved.
- Damaging things will not happen or are less likely to happen.
- Mitigating actions will be or are more likely to be identified.
- Beneficial things will be or are more likely to be achieved.
- Improvement actions will be or are more likely to be addressed and requested.
YouInform
YouInform is a reporting tool that allows Madison College staff, students and stakeholders to report illegal activities of fraud, misappropriation of assets, and noncompliance with laws and regulations.
The senior internal auditor manages the YouInform reporting mechanism.
You can learn more about this reporting mechanism through our frequently asked questions. (PDF, 3 pages)
To file a report, use the YouInform form or call (608) 616-3900. Submissions through the online form can remain anonymous.
