Effectiveness of internal control and internal audit system in foundation universities and an application

In the institutions and organizations where internal control and internal audit mechanisms take place regularly and systematically, possible risks are determined in advance and all necessary precautions are taken and situations faced with negative factors such as error, corruption and fraud are minimized. Internal controls and internal audits carried out within the framework of certain standards add value to the organizations and bring a management approach that will guide the decisions of the senior management. Although they are not subject to the provisions of the Public Financial Management and Control Law no.5018, this structure is carried out through internal controls and internal audits at Foundation Universities. Internal control and internal audit activities help the University to correct its own deficiencies and errorsa and to manage the possible risks before the External audits. These Activities, which contribute to the improvement process by making continuous monitoring of their academic and administrative Activities or financial transactions, are implemented in Foundation Universities within the quality management System. In this study, how internal audit and internal control systems in foundation Universities audit the activities, academic and managerial Processes of the University, the results achieved with these audits and controls, and which internal audit and internal control activities are applied are examined in details. Key Words: Internal Control, Internal Audit, Foundation Universities