Internal auditing
Case study

QUESTION 1
SWOT analysis (alternatively SWOT matrix) is a structured planning method used to evaluate the strengths, weaknesses, opportunities, and threats involved in a project or in a business venture. Strengths There no strengths of this university | Weakness * One of the weaknesses of university was the inadequate segregation duty. Mr. Lockwood had a wide span of control and was unable breach certain policies .for example purchasing and university policies. * Another weakness is that the internal auditing department was not independent therefore it could not detect error or abasement of the university system. * The president did not perform is work effectively manner because he did not check in on vice president to ensure he was doing it effectively after giving so responsibility. * Promoting unethical conducts. For example lying to board about insurance companies. | Opportunities * One major opportunity is that they could reduce the amount of years they would be operating in deficits by raising the school fee. | Threats * One major threats is that university would operate at loss for the next biennium * Raising the school is also a threat because it might be higher that there competitors which force the customer to chose there competitors if they can offered it . |

Question 2
How important is internal control in a university environment?
Internal controls are the procedures that are put in place to help achieve the objectives of the Milianaw University relating to financial, strategic, and academic initiatives. Good controls encourage efficiency, compliance with laws, regulations and university policies, and seek to eliminate fraud and abuse.
The importance Internal Controls
Everyone with the university has some role in internal controls. An individual responsibility depends mainly on the level of