Internal Audit Department

Mr. Alaba Sunday AJEWOLE
Director, Internal Audit Department

Mr. Name
Deputy Director, Internal Audit Department

Welcome to the Internal Audit Department of the Federal University Oye-Ekiti (FUOYE). The Department functions as an independent assurance and advisory body tasked with strengthening internal controls, governance processes, and financial accountability across the University.

Operating within public-sector financial management regulations, the Internal Audit Department provides objective evaluation of financial, operational, and compliance processes. Its work supports transparency, mitigates institutional risk, and enhances stakeholder confidence in the University’s governance framework.

Scope

The scope of the Internal Audit Department spans all financial and administrative activities of the University, including statutory allocations, internally generated revenue, procurement processes, and operational expenditures.

Its scope includes:

Financial and compliance audits
Risk assessment and internal control reviews
Procurement and contract evaluation
Performance and efficiency audits
Investigation of financial irregularities
Monitoring compliance with public financial regulations
Advisory services on governance and risk mitigation

The Department maintains functional independence while reporting to designated governance authorities in accordance with statutory requirements.

Vision

To be a trusted and professional internal audit department recognised for integrity, independence, and excellence in public-sector financial oversight.

Mission

To strengthen institutional governance through independent assurance, risk management evaluation, and advisory services that promote accountability and financial integrity.

Responsibilities, Services, and Duties

The Internal Audit Department performs the following:

Conducting periodic financial and operational audits
Reviewing compliance with government and University financial regulations
Evaluating internal control systems and recommending improvements
Assessing risk exposure across departments and projects
Investigating financial discrepancies and irregularities
Monitoring implementation of audit recommendations
Providing advisory support on financial management practices
Safeguarding institutional assets through preventive audit mechanisms

Institutional Synergy and Collective Impact

The Directorate of Physical Planning ensures that FUOYE’s physical infrastructure supports its academic mission and strategic ambitions. Through structured planning, it contributes to:

Functional and modern learning environments
Efficient land and resource utilisation
Sustainable campus growth
Improved infrastructure resilience
Enhanced institutional image and competitiveness

By integrating vision with technical oversight, the Directorate supports FUOYE’s transformation into a forward-looking and strategically developed public university.