New director of audits named

Updated 11:00 AM September 9, 2004

New director of audits named

By Nancy Connell
News Service

Carol F. Senneff has been named the executive director of University audits, effective Oct. 4, pending approval by the Board of Regents.

Senneff will be responsible for the strategic management of the internal audit function. In that role, she is charged with developing a comprehensive program of independent internal auditing, and providing consulting and training services to management across the University in areas such as risk identification, implementation of effective control mechanisms, and compliance with internal and external regulatory requirements.

She will report to President Mary Sue Coleman, with direct access to the chair of the Regents Finance, Audit and Investment Committee.

"It is imperative for the University to have a first-rate, rigorous and dynamic audit function," Coleman says. "The role of the internal auditor has become much more far-reaching in recent years, and it is critical to sound and strategic management of the University. Carol Senneff has the experience and ability to develop and lead just such an operation."

Senneff will be responsible for oversight of the Office of University Audits, for the conduct and operations of all internal audit activities in the University, for coordinating external audits, for developing and supporting the system of internal controls across the University, and for implementing an annual risk-based audit plan.

The auditor works closely with management on ways to achieve efficiency in business operations while creating and overseeing procedures that systematically identify, analyze and minimize the various risks inherent in running a large and diverse enterprise.

Senneff, a certified public accountant, served as director of internal audit for the University of Iowa and the University of Iowa Hospitals and Clinics from 2000 to the present. In that capacity, she upgraded the audit function and merged the university and hospital internal audit departments.

Senneff formerly was director of international finance and tax and manager of internal audit and tax for Solar Turbines Inc. in San Diego, a Caterpillar company; senior tax accountant for Caterpillar Inc., in Peoria, Ill.; and staff accountant for Peat Marwick-KPMG in Peoria.

She received bachelor's degrees from the University of Iowa and Mount Saint Clare College, and earned an executive certificate from Thunderbird Graduate School of the University of Arizona.

New director of audits named

More Stories