BRIEF HISTORY AND ACTIVITIES
The Directorate of Internal Audit, a unit in the Vice-Chancellor’s office commenced operation on September 1st, 2005 as Internal Audit Unit. It was upgraded to a Directorate in 2012. From an initial staff strength of three, the Directorate currently has twelve staff, comprising nine Internal Auditors and three support staff.
Internal auditing in Redeemer’s University is established by the University Governing Council. The role of the Directorate of Internal Audit (DIA) is to support the achievement of corporate objectives by conducting an independent appraisal of all University’s activities, financial and otherwise. In addition to conducting value-for-money audits, it supports management by conducting a systematic and impartial evaluation of internal controls, risk management, governance, and financial elements, and reporting thereon. Internal Auditing in Redeemer’s University is risk based, in line with global best practice.
Roles of the Directorate of Internal Audit in Redeemer’s University
The Directorate ensures that:
- internal control measures are instituted which, as far as is reasonably possible, safeguard all assets, in addition to preventing fraud and other irregularities. These include segregation of duties, organizational, authorization, approval, physical, supervision, personnel, arithmetical, accounting, acknowledgement of performance and management controls.
- Ensuring that management policies are executed at the right time.
- Applicable accounting standards are properly and consistently followed
- Balances shown in the records are actually in existence and accurate.
- Relevant controls are instituted and effected with respect to expenditure.
- The University receives value for money spent.
- Determining the effectiveness of the existing internal controls through regular review and test of the systems of internal controls.
- Making recommendations for policies and procedures to safeguard the University’s assets.
- Carrying out continuous audit of the accounts and records of revenue, expenditure, stores, and other properties to evaluate whether actual performance is within the established financial control framework.
- Ensuring strict compliance with University’s laws, rules and regulations by all members of staff.
- All monies due to the University are collected, recorded and accurately accounted for.
- There is no loss of cash through fraud or theft.
Other Activities
Aside control and internal auditing matters, the Directorate also manages the Enterprise Risk Management Framework of the University.
Internal Audit Coverage
The scope of internal audit activities extends to other arms of the University such as:
- Institute of Genomics and Global Health (IGH)
- RUN Business Ventures (RUNBV)
- Redeemer’s University School of Remedial Studies (RUNSORs)
- Directorate of Educational Services and Training (DEST)
- Redeemer’s University Staff School (RUNSS)
- Redeemer’s University Cafeteria (Manna Palace)
- Redeemer’s University Chaplaincy
- Guest House
- Farming and Agricultural Projects
CURRENT STAFF LIST
| Akinlawon, Olusola K., MSc, FCA, AMNIM | Deputy Director |
| Banjo, Adeyemi A., MBA, FCA | Chief Internal Auditor |
| Jayeoba Victoria I., MSc., ACA | Chief Internal Auditor |
| Meshioye, Toyin S., BSc., ATS | Principal Executive Officer 1 |
| Ogunsipe Adefunke I., BSc., ACA | Internal Auditor 2 |
| Jayeoba, Adeyemi A BSc. | Internal Auditor II |
| Oluwadirepo Oluwatosin I., MSc | Internal Auditor II |
| Oladipo Margaret T. BSc., ACA | Executive Officer |
| John-Olorunfemi Fadekemi A. BSc. | Executive Officer |
| Fawehinmi Temitayo W. BSc. | Chief Clerical Officer |
| Adegbola Blessing O. | Corps Member |
| Olatunji Boluwatife O. | Corps Member |