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TO: |
Audit Committee |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Mike Hurst, Director Internal Audit |
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PRESENTER(S): |
Mike Hurst, Director Internal Audit |
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TITLE:
title
2025 Assurance Map (25-11)
end
AGENDA ITEM TYPE:
Report
RECOMMENDATION:
Informational report for discussion.
BACKGROUND:
UTA Internal Audit conducts their work in accordance with the Global Internal Audit Standards published by the Institute of Internal Auditors. Standard 9.5 states, “The chief audit executive must coordinate with internal and external providers of assurance services and consider relying upon their work. Coordination of services minimizes duplication of efforts, highlights gaps in coverage of key risks, and enhances the overall value added by the providers.”
Achieving this standard requires Internal Audit to be aware of the assurance activities that happen at the agency. The most effective tool to do this is an assurance map. An assurance map is a table or matrix that lists the top risks of an organization and corresponding audit and monitoring activities. The map visually shows areas with low or excessive coverage to help decision makers better allocate resources appropriate to the underlying risks. The map can also help coordinate activities to avoid duplication of work.
Internal Audit created an assurance map for 2025 as part of the 2025 Internal Audit Plan. This will be an annual practice.
DISCUSSION:
Internal Audit will report on analysis performed on the 2025 UTA Assurance Map.
ALTERNATIVES:
Not applicable
FISCAL IMPACT:
Not applicable
ATTACHMENTS:
25-11 2025 Assurance Map