The State Board of Regents provides governance and oversight to the university, but they have delegated their authority of developing policies and maintaining the control environment to the President. In turn, the President has delegated the authority of implementing policies and managing the control environment to the colleges and departments. The Office of Internal Audit does not have the authority or responsibility for writing policies or maintaining the control environment but rather is responsible for monitoring the effectiveness of the university's processes and control environment.
The Office of Internal Audit reports administratively through the Office of the President. All employees (other than the Chief Audit Executive) are Iowa State University employees. As a result, the Office of Internal Audit reports functionally to the President. In order to ensure its independence, the Internal Audit Director administratively reports to the Executive Director of the Board Office and the Chair of the Audit and Compliance Committee.
The State Board of Regents has approved the Internal Audit Charter which clearly defines Internal Audit's role and authority within the institution.
Internal Audit Charter
Board of Regents Internal Audit Charter
Approved by State Board of Regents (February 27, 2025)