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HISTORY OF INTERNAL AUDIT DEPARTMENT

The Internal Audit Department (IAD) was organized in the University of San Carlos on August 01, 1982, appointing Ms. Salvacion A. Trinidad as the Internal Audit Manager. Since then Ms. Trinidad has served as the Audit Manager for close to twenty-four (24) years. With her leadership, the Internal Audit Department provided management with constructive criticism and positive recommendations designed to strengthen and improve performance results and cost effectiveness of University’s operations.

The Internal Audit was an integral part of the Finance Division attached directly to the Vice President for Finance. The IAD then pre-audited all transactions for their recommending approval.

When the Finance Division reorganized in SY2003-2004, the IAD was made to directly report to the Office of the President, and thus, physically it relocated its office in February 2004 from the Finance wing to its new location at the Ground Floor, USC Main Campus, the first office to the left of the USC Main Campus Information Counter.

With the organizational shift, the IAD was likewise restructured. The audit scope was divided into three main audit areas, namely; the Financial, Operations and Information Technology. Each audit area has its own field of expertise which is regularly coordinated with the other areas in the conduct of examination. The IAD at present, functions as a reviewing body (through its post audit function) not only of the Finance Division but of all the other operating units within the University structure to ensure the accuracy and reliability of accounting and other data and timeliness of report as the essential input to the decision making process. In this regard, it serves as an active link between the Finance Committee of the Board of Trustees and the USC Finance Team in seeing to the proper implementation of Board decisions. The Finance Team is composed of the following:
  • Chairperson of the Committee
  • Vice President for Finance
  • Internal Audit Manager
  • Comptroller
  • Treasurer
  • Financial Analyst
  • Head of Budget and Procurement
  • Fund Officer
  • Budget Officer
  • Head of Financial Audit
  • Head of Operations Audit