Internal Auditors are employees of the university. The purpose of Internal Audit is to evaluate the adequacy and effectiveness of internal controls to manage risk and to serve in a consultative capacity regarding controls, processes, operations and systems.
The Institute of Internal Auditors defines internal auditing as, "an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes."
External auditors include the university's independent accounting firm, which is primarily concerned with the completeness, accuracy, and fair presentation of the university's financial statements and the financial condition of the institution. Additionally, government auditors are concerned with the university's compliance with government regulations and sponsored research grants.