Internal Audit’s primary purpose is to help the organization deliver on its mission. We do that by talking to people, studying operational and financial processes, and reviewing information to determine whether appropriate internal controls are in place and functioning.
An internal control is a process that helps the organization make sure things run the way they should. Good examples include reconciling bank accounts, initials on logs indicating that a qualified person checked an important gauge each day, or policies that require passwords to be of a certain length, contain numbers/letters, and be kept confidential.
Internal Audit is set up to be independent and objective. We draw our authority and operating guidelines from the Denver Water Internal Audit Charter and from the internationally recognized Institute of Internal Auditors. The charter also grants Internal Audit unrestricted access to any of Denver Water’s functions, records (manual or electronic), physical properties, and personnel relevant to the performance of the internal audit activity. Because of this independence and authority, investigations into things such as fraud are run by us.
We have a tremendous interest in maintaining a strong business-audit partnership. To that end, the internal audit process is set up with plenty of communication and opportunity for discussion and clarification. It also is engineered to be sensitive to the operating needs of the organization. We don’t like surprises any more than you do.
Prescott Coleman, CIA, CISA
Chief Internal Auditor
303-628-7018