PURPOSE AND MISSION

The Internal Audit Director shall provide independent, objective assurance and consulting services designed to add value and improve Regent’s operations. The mission of internal audit is to enhance and protect organizational value by providing risk-based and objective assurance, advice, and insight. The Internal Audit Director helps Regent accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of governance, risk management, and control processes.

Primary Responsibilities:

 Developing and executing a comprehensive, risk-based audit plan that results in cost effective evaluation of the systems of internal control over activities of Regent University

• Evaluate the adequacy of the systems of internal control designed to safeguard Regent University resources and ensure compliance with established policies, procedures and applicable laws and regulations.
• Reviewing the reliability and integrity of financial compliance and operating information and the means used to identify, measure, classify and report such information
• Monitoring and appraising the adequacy of the actions taken by management to correct reported deficient conditions with timely reporting to the Audit committee.
• Financial Audits: Reviewing financial statements, budgets, and transactions to ensure accuracy, completeness, and compliance with generally accepted accounting principles (GAAP) and university policies.
• Compliance Audits: Verifying adherence to federal, state, and institutional regulations, including grant funding requirements, Title IX, and other legal mandates.
• Internal Control Evaluation: Assessing the effectiveness of internal controls, risk management processes, and governance structures to prevent fraud and mismanagement.
• Operational Audits: Examining university processes, such as procurement, payroll, or student financial aid, to identify inefficiencies and recommend improvements.
• Risk Assessment: Identifying and evaluating financial, operational, and compliance risks that could impact the university’s objectives.
• Reporting: Preparing detailed audit reports with findings, recommendations, and corrective actions for university leadership, often presented to an audit committee or board of trustees.
• Follow-Up: Monitoring the implementation of audit recommendations to ensure issues are resolved.
• Advisory Role: Providing guidance on best practices for financial and operational processes while maintaining independence.
• Fraud Detection: Investigating potential fraud, waste, or abuse of university resources.
• Liaison with External Auditors: Coordinating with external audit firms during annual or regulatory audits to provide necessary documentation and support.
• Submit, at least annually, to executive management and the Audit Committee, a risk-based internal audit plan for review and approval.
• Communicate to executive management and the Audit Committee the impact of resource limitations on the internal audit plan.
• Review and adjust the internal audit plan, as necessary, in response to changes in Regent’s business, risks, operations, programs, systems, and controls.
• Communicate to executive management and the Audit Committee any significant interim changes to the internal audit plan.
• Ensure each engagement of the internal audit plan is executed, including the establishment of objectives and scope, the assignment of appropriate and adequately supervised resources, the documentation of work programs and testing results, and the communication of engagement results with applicable conclusions and recommendations to appropriate parties.
• Follow up on engagement findings and corrective actions, and report periodically to management and the Audit Committee any corrective actions not effectively implemented.
• Ensure the principles of integrity, objectivity, confidentiality, and competency are applied and upheld.
• Ensures that they and any other members of the Internal Audit Department collectively possesses or obtains the knowledge, skills, and other competencies needed to meet the requirements of the internal audit charter.
• Ensure trends and emerging issues that could impact Regent are considered and communicated to executive management and the Audit Committee as appropriate.
• Ensure emerging trends and successful practices in internal auditing are considered.
• Establish and ensure adherence to policies and procedures designed to guide the Internal Audit function.
• Ensure adherence to Regent’s relevant policies and procedures, unless such policies and procedures conflict with internal audit standards/best practices. Any such conflicts will be resolved or otherwise communicated to executive management and the Audit Committee.
• Design, develop, execute, and report to the Audit Committee at least annually on a quality assurance and improvement plan for the internal audit function.

Benefits

Regent offers a wide range of generous benefits including health, life and disability insurance; flexible spending accounts; tuition incentives; fully vested retirement plans; life and disability insurance options, time off, and more. All regular faculty and staff serving at Regent and working a minimum of 30 hours per week will receive an attractive benefits package.

Regent University does not discriminate in employment in its programs or activities on the basis of race, color, national or ethnic origin, sex, disability, age or veteran status. For full Non-Discrimination Policy click here.

Education and Qualifications

 The Internal Audit Director shall have:

• An undergraduate degree in Accounting from an accredited college or university
• A minimum of 5-7 years of experience in an internal audit function within a college or university setting
• CPA license and CIA qualifications related to internal auditing
• Demonstrated ability to design and implement a comprehensive internal audit plan and related schedule of inquiries and testing

Personal Characteristics

 The Internal Audit Director must be an individual of uncompromising integrity, who is objective, forthright, and accountable. They must possess superior oral and written communication skills and the ability to foster and maintain strong organizational relationships at all levels of the University. They must also evidence a dedication to Regent’s core values of Integrity, Excellence, and Innovation, and embody a mature and ongoing commitment to a Christian worldview.

About Regent University

Working at Regent University is more than a job. It’s a place where you get to be part of fulfilling a significant mission "Christian Leadership to Change the World" through your service to the school, students, faculty, and staff. There’s a reason Regent ranks among the best colleges to work for nationally! For 16 years, The Great Colleges to Work For® program (The Chronicle of Higher Education, 2024) has recognized Regent for our ability to create a successful workplace.

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