As the internal oversight unit, the Internal Audit Department is responsible to the Governing Council and President for the effectiveness of the University College's risk management, control, governance processes and arrangements to promote economy, efficiency, and effectiveness in operations of the University College.
The activities of the Internal Audit Unit include four (4) principal areas, which are financial audit, performance audit and investigations, compliance audit, and information technology audit.

The core activities of the Internal Audit Department include:

Assessing and reporting on the reasonableness and application of the system of controls in place at the University College.

Assessing the effectiveness of the University College's risk management and governance process and contributing to improvements in this process.

Assure efficiency, effectiveness, and economy in the administration of the programmes and operations of the University College.

Assess the University College's compliance with regulations, policies, standards, systems, and procedures.

In consultation with the President, prepare an annual audit work plan of activities that must be performed during the fiscal year, including fiscal risks of the University College, for approval by the Finance Committee of the University College Council.