Introduction
The Quality Assurance and Financial Compliance Department’s (QAFC) role is to be an independent and objective assurance and consulting function that adds value and improves the operations of UNLV. It helps the university achieve objectives by systematically evaluating and improving risk management, control, governance, and the implementation of best practices.
QAFC was established by the vice president for business affairs / CFO and is overseen by the business affairs chief compliance officer (BACCO). The BACCO reports, both administratively and on functional matters, directly to the vice president for business affairs / CFO.
QAFC is granted full, free and unrestricted access to all relevant university records, physical properties, and personnel. When necessary, university personnel will assist QAFC.
Professional Standards
QAFC will follow the code of ethics of the Institute of internal auditors and all university policies. The department diligently maintains an independent attitude.
The audit work schedule is developed by prioritizing the audit universe by risk. QAFC reports its plans, significant issues, and staffing capabilities to the vice president for business affairs as needed.
QAFC issues a written report after each review for distribution to clients and other appropriate parties. Each audit’s results are retained by the department and provided to the vice president for business affairs. Management implements corrective action identified during audits, and QAFC performs follow-up reviews of these actions.