The Internal Audit Office (IAO) serves as an independent, objective assurance, and valueadded
partner of NBSC, established to enhance operational effectiveness. The IAO assists management
in achieving organizational objectives by evaluating the effectiveness of risk management, internal
controls, and governance processes.
The IAO operates under a baseline assessment of internal control systems (BAICS) and a riskbased
audit approach, performing quarterly internal audits and special audits that cover management,
compliance, and operations audits.
The objective of the Internal Audit Office (IAO) is to provide independent, value-adding audit and advisory services that strengthen NBSC’s governance, risk management, and internal control systems, in support of the College’s vision, mission, and strategic goals, through a systematic and risk-based approach.
1. Quarterly Internal Audit – This process is a core function of IAO, which covers Compliance, Management, and Operations Audit performed on a Quarterly Period.
2. Compliance Audit – A compliance audit is the evaluation of the degree of compliance of control with
laws, regulations, managerial policies, systems, and processes of government,
including compliance with accountability measures, ethical standards, and
contractual obligations.
3. Management Audit – A management audit is an evaluation of the effectiveness of internal controls adopted
in the operating and support services units/systems to determine whether or not they achieve the control objectives over time or as of a specific date. It is a review and appraisal of the systems and processes, organizational and staffing structures, operations, and management practices, records, reports, and performance standards of the divisions/offices/units covered.
4. Operations Audit – An operations audit is a separate evaluation of the outcome, output, process, and input
to determine whether government operations, programs, and projects are effective, efficient, ethical, and economical (4Es).
5. Special Audit – Request by the College President arising from a particular issue or concern.
