Internal auditing is an independent, objective assurance and consulting activity which adds value and improves operations. It helps an organization accomplish its objectives using a systematic approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
The Division of Internal Audit was established in July 2003 as an independent appraisal function to examine and evaluate KRS' activities as a service to the Audit Committee, Board of Trustees, Executive Director, and all levels of management. In this capacity, the Division conducts financial, operational, information systems, and performance audits.
The overall objective of the Division of Internal Audit is to assist all levels of management in the effective discharge of their responsibilities by providing independent analysis, appraisals, advice, and recommendations concerning activities reviewed. In addition, the Division provides consulting services, conducts special investigations, and responds to management requests.
The mission of the Division of Internal Audit is to provide independent and objective assurance and management advisory services. In particular, the Division seeks to identify risks, evaluate controls, and make recommendations that will strengthen the operations of KRS.
The Division of Internal Audit helps to improve the performance and accountability of KRS by:
- assessing the reliability of financial and operating information;
- evaluating the efficiency and effectiveness of other Divisions;
- testing the adequacy of controls for preventing waste and safeguarding assets;
- verifying compliance with policies, procedures, and regulations; and,
- advising and providing KRS employees with ways to increase internal control knowledge, awareness, and assessment capabilities.
Contact InformationDivision of Internal Audit Kentucky Retirement Systems
Perimeter Park West
1260 Louisville Road
Frankfort, KY 40601-6157
Telephone: 502-696-8800 or 800-928-4646
Facsimile: (502) 696-8806
Internal Audit Questions