Internal Audit is an independent, objective assurance and advisory function established within the University of Pennsylvania and the University of Pennsylvania Health System (UPHS). We seek to add value and improve an organization’s operations by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
We strive to do this by working collaboratively with University and UPHS management to evaluate business processes and systems of internal control to provide assurance regarding the achievement of objectives in the following categories: effectiveness and efficiency of operations, reliability of financial reporting, and compliance with applicable laws, regulations, and policies. We seek to provide appraisal results, recommendations, and counsel that promotes effective control at reasonable cost.
Internal Audit provides institutional-wide services to all entities and subsidiaries of the University of Pennsylvania and Penn Medicine, including all schools, responsibility centers, central administrative departments, auxiliary enterprises, the Hospital of the University of Pennsylvania, Pennsylvania Hospital, Presbyterian Medical Center, Clinical Practices of the University of Pennsylvania, and Clinical Care Associates. In accordance with University Policy 2702 Internal Audit is authorized to:
- Have free, unlimited and unrestricted access to all books, records, files, property and personnel of the University and the Health System, including the schools, service and resource centers, central administrative departments, auxiliary enterprises, subsidiaries
- To make improvement recommendations and to monitor the implementation of its recommendations
- Allocate resources, set frequencies, select subjects, determine scopes of work, and apply the techniques required to accomplish audit objectives.
Internal Audit is not authorized to:
- Perform any operational duties for the organization
- Initiate or approve accounting transactions external to OACP
- Direct the activities of any organization employee not employed by Internal Audit except to the extent such employees have been appropriately assigned to auditing teams or to otherwise assist the internal auditor
Internal Audit will deliver high quality services in a collaborative, professional and responsive manner and be a catalyst for positive change.
Internal Audit has established the following core values that guide the delivery of services to our clients.
- People – We strive to recruit the best candidates and are committed to helping each team member develop their skills and abilities by providing continuous learning, coaching, professional experience, and development.
- Integrity – We are committed to the highest level of ethical conduct in the performance of our work.
- Independence and Objectivity – We will remain independent in order to carry out our work freely and objectively and render impartial and unbiased judgments to best serve the organization.
- Communication – We will communicate openly, constructively, and with respect at all times.
- Accountability – We willing accept responsibility for our actions and take ownership of the work assigned to us.
- Commitment to Quality – We will work to continuously improve our processes and work products to enhance the value to our clients.