The Corporate Sector Supervision and Transparency Act (Gesetz zur Kontrolle und Transparenz im Unternehmensbereich) was passed to explicitly require the introduction of a monitoring and risk management system and position internal audits as a key aspect of governance. It also applies to state organizations. At the Carl von Ossietzky University of Oldenburg, an internal audit has been introduced specifically for the finance division. The internal audit will support management and expert auditors in ensuring the correctness, fitness for purpose and economic feasibility of fulfilling objectives and utilizing staff and financial resources. It will also contribute to preventing and targeting corruption.

The internal audit section is assigned directly to the Vice President for Administration and Finance, who is responsible for the university budget.

Responsibilities:

Audit tasks: general and specific audits of existing structures and processes against fitness for purpose, economic feasibility, service orientation, compliance with regulations, legal compliance, certification of audits under EU-RP, cash audits including payment office and petty cash, validation of allowances statements under section 44 LHO for non-university institutions, answering audit notices and enquiries from the state audit office. The internal audit section is autonomous and has the right to request any information although it cannot instruct employees or faculties/institutes at the university.