An assesment of internal control system of public agencies by independent external auditor perspective: An example of application in a state university

Public Financial Management, covers the institutions and processes related to the management of public resources. This process consists of three stages: Determination of policies and priorities and allocation of the resources of the country in accordance with the specified policies and establishment of control and audit mechanisms aiming to ensure the economical, effective and efficient acquisition and utilization of public resources. Therefore, auditing is an indispensable necessity of modern thinking of public administration. Internal control which step in at this point and showed its effect firstly on private sector, Internal Control Standard Statement which was made by Public Financial Management and Control Law No. 5018 has been a must. According to COSO Internal Control Evaluation Model that is based on the standards, internal control system consist of five different components (Control Environment, Risk Assesment, Control Activities, Information and Communication, Observation). This system needs to be established with an action plan in public agency, to be assessed by observation component and its problems should be detected and corrected. This study aims to investigate the weaknesses of internal control system with questionnaire, flow chart, note taking method and suggestions is made to the mangement level acoording to the results. Keywords: Audit, Public, Internal Control, COSO, Independent Auditing.