The school board and university shall implement internal auditing in order to assist the board of directors and university president:
1. Examine the effectiveness of internal control system.
2. Evaluate operational effectiveness and efficiency of school board and university.
3. Provide improvement proposals on a timely basis to ensure that internal control system can continue to be implemented effectively.
( Internal control system for private schools § 13 )
The internal auditors of school board and university or the appointed independent certified public accountants (CPA) shall implement audit procedures according to the internal control regulations. The audit shall be conducted in evaluating the effectiveness and compliance of the school board and university on current personnel, financial and operational policy and operating procedures, and shall not be in contradiction with accounting duties. The duties of internal auditors or appointed CPA are as follows:
1. A subsequent audit including personnel activities, financial activities and other operations activities.
2. A subsequent audit on Bursary sector in cash handling.
3. Taking inventory on cash in school, cash in banks and marketable securities.
4. Responsible for auditing the school’s financial efficiency and making necessary recommendations on reducing un-economical or inefficient expenditures.
5. Auditing on special projects.
(Internal control system for private schools §16)